Bank Of Baku

MegaFon moves to acquire Sinterra

MegaFon moves to acquire Sinterra
# 30 July 2009 16:50 (UTC +04:00)
Baku. Aynur Veliyeva - APA-Economics. The Russian Federal Antitrust Committee has approved Megafon’s bid to purchase Sinterra.

Note that on 29 May this year Azerbaijan’s Azertelekom and Russia’s Sinterra signed a joint ventures agreement.

Azertelekom is owned by Azerbaijan’s Baku Telephony, Aztelecom, Teleradio and Azerfon.

MegaFon is 43.8% owned by TeliaSonera which owns Azercell Telecom in Azerbaijan.

So, the joint venture to be set up in Azerbaijan by Azertelekom and Sinterra is likely to be run by Azerfon and Azercell.

Sinterra’s press secretary Ekaterina Andreyeva told APA-Economcs that the company has started to design and construct a fiber-optic cross-border passage between Azerbaijan and Russia.
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