The leading telecoms group in Russia, Mobile TeleSystems (MTS) has acquired #4 Russian cable TV provider and broadband operator Multiregion for $123.5 million, the company announced. MTS will also assume debts totalling $94.4 million.
Founded in 2004, Multiregion has 700,000 cable TV subscribers and 260,000 broadband subscribers. The company operates under the Multinex (Мультинекс) brand in 37 cities of Russia. The company’s networks cover 1.8 million households.
MTS services over 103.5 million mobile subscribers in Russia, Ukraine, Uzbekistan, Turkmenistan, Armenia and Belarus. MTS, which acquired fixed-line and broadband telecoms group COMSTAR-UTS in 2009, will continue to broaden its telecoms services and regional coverage with the acquisition of Multiregion.