There had been a lot of speculation and doubts regarding whether Russian MTS would acquire the Multiregion. Now the answer is out, and  it is positive. Russian Mobile TeleSystems (MTS) has finally got hold of hundred percent of the CJSC Multiregion company. This company, Multiregion had been and is one of the leading groups of broadband and cable providers in their Russian domain. It has particularly its stronghold in the Cavalo Trading Limited, Cyprus. The Russian Mobile TeleSystems have bought off the deal at a whopping cost of $123.5 million for the company, which puts them in a tight spot with $94.4 million in debt. But TeleSystems seem to be all to calm about the entire ordeal and ensures all and sundry that this deal was worth it and it would soon seem to be paying off.

Multiregion has its links and branches in around 37 cities of the Russian Federation. So it comes as no surprise when it states that it wouldn’t take much to clear off the debt from the cell phone broadband and transaction. It has its reach in 1.8 million households in Russia and around 1.3 million of which is FTTB based. With approximately 700,000 cable TV subscribers and 260,000 broadband subscribers, the debt problem seems already solved and taken care off.

This latest stunt by the MTS will now strengthen its already strong foundation in the telecommunications business in Russia. It now holds a major portion of all communications that trickles through their country. This scary monopoly has made them the telecommunications giant that they had always aspired to become. Buying of a large chunk of CJSC seems to be their greatest feat till date.

The newly appointed CEO of their company promptly answered to the doubts and awe of the people with his statement: “It [Multiregion acquisition] fits perfectly into our ’3i’ strategy, as it allows us to expand our integrated service portfolio and to differentiate our products from the competition.”