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Integrated communication services provider Comstar UTS has acquired Ural Telephone Company (UTC), a telecoms operator in the Ekaterinburg and Sverdlovsk regions of Russia, for RUB 1.02 billion ($43.4m).
"COMSTAR - United TeleSystems" JSC ("Comstar" or "the Group") (LSE:CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced the acquisition of a 100% stake in LLC "Strategy", the owner of 100% of the share capital of CJSC Ural Telephone Company ("UTC"), the number one alternative telecommunications operator in Ekaterinburg and the Sverdlovsk region(1), for a total cash consideration of RUB 1.015 billion (approximately US$ 43.4 million(2)).
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