FAS Approves MegaFon Scartel Purchase

Mobile phone operator MegaFon has obtained clearance from the country's competition watchdog for a potential acquisition of rival Scartel, the regulator said Thursday.

The Federal Anti-Monopoly Service said in a statement on its website that it granted MegaFon's request to allow it to buy 100 percent of Scartel's parent Maxiten Co Limited with conditions aimed at preserving competition in the mobile broadband market.

Scartel is majority-owned by MegaFon's main shareholder billionaire Alisher Usmanov.

On Thursday, MegaFon confirmed that it was considering a potential deal but said there was no certainty as to whether the transaction will proceed or when.

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