Russian mobile operator Megafon announced that its management board has approved the full acquisition of Gars from Stayblon and Giacomodex Finance. Gars, which works under the Gars Telecom brand, is a building local exchange carrier operator, providing a full scope of fixed-line telecom services to the tenants of class А, В and С business centres.
Megafon said the deal is in line with its strategy and will allow it to enhance its fixed-line presence in business centres in Moscow and expand the company’s share in the B2B market. The terms of the planned transaction will be disclosed upon completion. The acquisition does not require any further corporate approval.