Liniya Prava is reporting that it advised MTS on the September 20, 2016 acquisition by its subsidiary LLC Telecom Povolzhye of 100% of the shares of mobile operator JSC SMARTS-Yoshkar-Ola in the Russian Republic of Mari El for RUB 41 million.
According to Liniya Prava, "the acquisition of a new asset will allow MTS to enhance its presence in the Republic of Mari El and to receive additional frequencies for development of its high-speed networks."
The deal closed after the parties agreed to settle their dispute in the London Court of International Arbitration.
Liniya Prava reports that it conducted a full scale legal due diligence of JSC SMARTS-Yoshkar-Ola and assisted MTS in the preparation of transaction documents.
