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MegaFon to Buy Synterra

MegaFon agreed to buy Synterra, a local telecoms operator, for $745 million to bolster its long-distance calling and broadband Internet access businesses, the company said Wednesday.

“The purchase of Synterra is an important step toward MegaFon’s strategy of becoming a leader in the broadband Internet access market,” MegaFon chief executive Sergei Soldatenkov said in an e-mailed statement. The price includes Synterra’s debt, the statement said.

MegaFon’s management will present the plan for integration of Synterra into its operations in late June, the company said. 

(Bloomberg)


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