MegaFon could close the purchase of Internet provider NetByNet for $350 million to $360 million in the next two weeks, Vedomosti reported Thursday.
The Federal Anti-Monopoly Service approved the purchase in March. Mobile TeleSystems also received clearance for the deal.
NetByNet provides broadband Internet and cable television services and controls 10 percent of the Moscow market. AC&M Consulting said it had 315,000 subscribers at the end of last year, fourth behind VimpelCom with 615,200 (19 percent), Akado with 644,000 (20 percent) and Comstar with 861,000 (27 percent).
The NetByNet purchase would be MegaFon's debut on the Moscow home broadband market. Co-owners in NetByNet are the provider's management, Gazprombank, Aton Capital Partners and co-owners in Media-1 Holding Ivan Tavrin and Gregory Berenstein.