08.15 Europe/London, August 24, 2011 By Chris Dziadul
The Russian telco MTS has acquired a 100% stake in Altair, a company that provides cable and broadband internet services in the city of Tula, for R680 million (€16.25 million).
Altair groups a total of four companies and is the leading alternative operator in Tula, claiming a 72% and 22% share of its cable and broadband internet markets respectively.
Its fibre-optic network, built on FTTB technology, reaches over 91% of the households in the city.
Besides being the leading mobile operator in Russia, MTS provides fixed line telecom and cable TV services throughout the country, as well as in Ukraine and Armenia.
It currently claims over 2.8 million pay-TV and 1.8 million broadband internet subscribers.