CenterTelecom, the largest fixed-line operator in central Russia, has decided to postpone acquisition of internet provider Akado after receiving a new offer from Akado's core shareholder Renova Media Enterprises, the company said on Monday.
Svyazinvest, CenterTelecom's parent company, had announced plans to purchase Akado at the end of the summer of 2010.
CenterTelecom had signed an exclusive agreement of intent to acquire Akado worth about $1 billion, including the firm's $350 million debt. According to media reports, CenterTelecom planned to acquire 50 percent of Akado and buy the rest of the shares after Svyazinvest's reorganization.
CenterTelecom has said Akado would become the basis for Svyazinvest's development in the Moscow region.
MOSCOW, September 13 (RIA Novosti)
