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Megafon

MegaFon Transfers its Tower Assets to an Independent Operator

October 27, 2021, 11:31 (UTC+3)|
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Telecom operator MegaFon and Moscow-based private equity company Kismet Capital Group have agreed to create an independent tower infrastructure operator on the basis of Tower One (subsidiary of MegaFon) and Vertical (operator controlled by Kismet Capital Group).

The new structure will unite 17 thousand towers and support structures of the Tower One, as well as more than 5 thousand Vertical’s facilities, and may become the largest independent player with more than 22 thousand towers.

MegaFon's share in the merged company will be 25%. Kismet Capital Group will receive more than 65% and will have five out of seven representatives on the board of directors (the remaining two will be for MegaFon). It is assumed that neither MegaFon nor any other telecom operator will be able to gain control over the new structure. Еhe deal will be closed presumably by the end of 2021.

As Forbes previously reported, that Tower One and Vertical were planning to create an independent company that will go public on the American stock exchange.

Original (in Russian)

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