Usmanov to Add Scartel Into His Telecom Holding, Vedomosti Says

Russian billionaire Alisher Usmanov plans to form a joint telecommunications holding with shareholders of Scartel broadband internet provider, which operates under the Yota brandname, Vedomosti reported.

The company will unite 100 percent shares of Scartel and Usmanov’s 50 percent stake in cell-phone operator OAO Megafon, the Moscow-based newspaper said citing Ivan Streshinsky, head of Usmanov’s telecommunication business. Scartel is valued at $1 billion for the deal, according to Vedomosti.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.