Akado sale still on hold
09.52 Europe/London, August 31, 2011 By Chris Dziadul
The proposed sale of the Russian cable operator Akado to Megafon has hit an impasse, with the latter’s shareholders apparently unable to agree on a price to pay for the company.
According to Vedomosti, the last figure discussed – $950 million (€581 million), including debts of $350 million– was considered too high by both Altimo and TeliaSonera.
It is believed the shareholders will next meet to discuss the acquisition in the second half of September.
Negotiations on the sale of a 70% stake in Akado began almost a year ago, with the cable operator then being valued at around $1.2 billion, including debts.
09.52 Europe/London, August 31, 2011 By Chris Dziadul
The proposed sale of the Russian cable operator Akado to Megafon has hit an impasse, with the latter’s shareholders apparently unable to agree on a price to pay for the company.
According to Vedomosti, the last figure discussed – $950 million (€581 million), including debts of $350 million– was considered too high by both Altimo and TeliaSonera.
It is believed the shareholders will next meet to discuss the acquisition in the second half of September.
Negotiations on the sale of a 70% stake in Akado began almost a year ago, with the cable operator then being valued at around $1.2 billion, including debts.