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Comstar-OTS bought the parent company of Ural Telephone Company (UTC) in July 2008, adding an established alternative fixed-line operator in Ekaterinburg and Sverdlovsk region. Comstar presented the deal as a regional expansion, with residential broadband as a growth opportunity in a market it then described as having low household internet penetration.
What did Comstar acquire?
The transaction was structured as a purchase of Strategy LLC, which owned all of UTC’s shares. Advance Capital, the sellers’ exclusive financial adviser, said the sale was completed on July 7, 2008. Sistema’s 2008 presentation listed UTC among Comstar’s regional acquisitions.
UTC was described at the time as a leading alternative fixed-line operator in Ekaterinburg and Sverdlovsk region. The acquisition therefore gave Comstar an established regional operating presence rather than simply a plan to enter the area.
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How much did Comstar pay?
The public disclosures give two different values for the 100% acquisition. The available sources do not explain the discrepancy.
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| Source | Reported transaction value | Disclosure context |
|---|---|---|
| Advance Capital | US$48.5 million | Seller-side adviser’s 2008 announcement of the completed sale |
| MTS filing with the U.S. Securities and Exchange Commission | US$43.5 million | 2011 filing covering acquisitions made in 2008 |
These are conflicting reported values, not amounts that can be combined or averaged. Neither cited disclosure establishes why the figures differ.
Why did Comstar buy a regional telephone operator?
Comstar’s stated growth case was to expand in Sverdlovsk region by offering broadband to residential subscribers. In a 2008 report, EE Times quoted Comstar vice president for development Viktor Koresh describing household internet penetration in the region as around 8% and saying the company expected broadband to increase revenue:
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“We expect to have a significant increase in revenues from providing broadband Internet services to residential subscribers in the Sverdlovsk region due to the low Internet household penetration, which is around 8%.”
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The roughly 8% figure is Koresh’s historical estimate reported in 2008, not a current statistic. His statement records the company’s expectation at the time; it does not establish that the forecast was later achieved.
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What was UTC’s financial position before the deal?
EE Times reported that UTC had generated US$21 million in revenue in 2007, up 43% year over year, and had a 23% EBITDA margin at the end of that year. The same 2008 report put UTC’s net debt at US$5 million at signing. These figures describe the company around the transaction, not its subsequent performance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Was UTC later merged into Comstar-Regions?
A schedule in a later SEC-filed agreement anticipated merging UTC into Comstar-Regions in Q1 2010. That schedule documents a planned integration timeline; it does not, on its own, confirm when or whether the merger was completed.
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