Russia’s leading WiMax provider Scartel, working under the Yota brand, has sold 100% of its stake in Yota Del Peru, a subsidiary it created in 2010 with Multinet Group, a discrete Russian company operating 4G networks in African and Asian countries, among other telecom activities.
The acquiring parties included ICT Group, one of the largest privately owned investment and industrial companies in Russia and A&NN, a prominent Russian investment fund operating in a diversified range of industries.
The new shareholders intend to invest up to $100 million to develop their Peruvian business. They hope to reach as many as 300,000 customers and achieve $60 million in EBITDA by 2015.
Yota Del Peru could be rebranded with the name Ollo, a trademark already used by ICT, A&NN and Multinet in Bangladesh.
Source: ICT Group
