Published: 09.33 Europe/London, March 29, 2011

The Russian cable operator Multiregion and telco Megafon have been given permission by the country’s Federal Antimonopoly Service (FAS) to buy NetByNet, the fourth largest ISP in Moscow.

Kommersant reports that the deal, which will effectively see NetByNet split in two, is worth in the region of $280-380 million (€199-270 million).

NetByNet provides both internet access and some 90 TV channels, some of which are in HD, to around 390,000 subscribers. Its share of the broadband market in Moscow in late 2010, according to data produced by iKS Consulting, was 10%, compared to the market leader Comstar, which claimed 30%.

Comstar, like Multiregion, is owned by MTS.

NetByNet has until now been owned by Fairlie Holding & Finance Limited, whose main shareholder has been Gregory Bernstein, with 31%