Veon to Sell Russian Mobile Network Towers for $970 Million
- Service-Telecom agrees to acquire National Tower Co.
- Deal subject to regulatory approval, expected to close in 4Q
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Veon said it agreed to sell its mobile network towers to a partner in Russia for 70.7 billion rubles ($970 million), a step in its plan to divest such infrastructure worldwide.
Service-Telecom will acquire 100% of Veon’s National Tower Co. unit, which operates about 15,400 mobile towers in Russia, and continue to provide services under a long-term agreement, Veon said Monday in statement. The deal is expected to close in the fourth quarter of this year pending regulatory approval, the company said.