MegaFon will acquire 100% of the shares Skartel / Whit
The operator MegaFon announced that its Board of Directors recommended that shareholders of the Company approve the purchase of 100% "Skartel / Whit" at Garsdale, the controlling shareholder of Megafon, at the Extraordinary General Meeting scheduled for 12 September 2013. "Skartel / Iota" - the only operator in Russia with a functioning network of 4G / LTE in many cities across the country. He is the band in the 2x30 MHz of national spectrum 4G / LTE in the range of 2.5-2.6 GHz, and the network provides coverage for about 27% of the population of Russia. "Skartel / Iota" serves about 648,000 4G / LTE-mass customers and corporate markets (as of June 30, 2013). MegaFon board has determined that the recommended acquisition of responsible leadership strategies operator data transfer and provides a range of expected strategic benefits:
A significant increase in the quality and capacity of the network, which will strengthen the leading position in MegaFon's fast-growing market of mobile data by improving the full range of service and customer care
Ability to deploy a network 4G / LTE while reducing capital and operating costs Mb / s, due to an increase in the width of the frequency spectrum Megaphone
Significant cost savings when deploying and operating networks, mainly due to reduction of significant current and future operating costs
The total purchase price "Skartel / Iota" is $ 1,180 million ("Payment for Shares"), not including the amount of "net debt", "Skartel / Whit" at the closing of the transaction. Terms of closing the deal include standard closing conditions such deals, and the availability of fully operational licenses 4G / LTE. The transaction will be considered adopted if it is approved by a majority of disinterested shareholders of MegaFon. To complete the transaction have been received all necessary governmental approvals, including the approval of the Federal Antimonopoly Service (FAS). Closing of the transaction is expected in late September 2013.
A significant increase in the quality and capacity of the network, which will strengthen the leading position in MegaFon's fast-growing market of mobile data by improving the full range of service and customer care
Ability to deploy a network 4G / LTE while reducing capital and operating costs Mb / s, due to an increase in the width of the frequency spectrum Megaphone
Significant cost savings when deploying and operating networks, mainly due to reduction of significant current and future operating costs
The total purchase price "Skartel / Iota" is $ 1,180 million ("Payment for Shares"), not including the amount of "net debt", "Skartel / Whit" at the closing of the transaction. Terms of closing the deal include standard closing conditions such deals, and the availability of fully operational licenses 4G / LTE. The transaction will be considered adopted if it is approved by a majority of disinterested shareholders of MegaFon. To complete the transaction have been received all necessary governmental approvals, including the approval of the Federal Antimonopoly Service (FAS). Closing of the transaction is expected in late September 2013.
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