Megafon acquires Yugratel

2011-12-16



Megafon Russian mobile phone operator and retailer has acquired Yugratel, a Siberian telecommunication operator located in the Khanty-Mansi Autonomous District (Yugra), in terms of auction, provided on 9 December 2012. Previously, the company, Yugratel, belonged to the government of Yugra (72.13%) and the administration of Surgut city (27.87%).
Ugratel serves 7% of the local telephone communication market, as well as 10% in the internet access market. The starting price of the lot was RUB 2.145bn ($67.6m), and the company was acquired by Megafon, at the cost of RUB 2.42bn ($76.3m). Apart from Megafon, two other companies partook in the auction: MTS (another national mobile phone retailer) and Elbrus Capital (a direct investment fund).