www.WirelessFederation.com/news: In a deal worth USD133.5 million, the regional unit of Russian state-controlled telecoms group Svyazinvest, VolgaTelecom has agreed to buy Teleset Networks. Teleset is a fixed line operator in the Republic of Tartarstan in the Volga region.
The offer was conditional upon it being accepted the holders of at least 90% of Teleset’s share capital. Till May 27, VolgaTelecom received acceptances in respect of a total of 154,697,339 ordinary shares, representing 98.19% of equity.
On June 3, 2010, the settlement is expected to be made at which point VolgaTelecom will take unconditional control of Teleset. The offer will remain open for four months for remaining non-transferred shares.
