Macomneft consolidates 100% of MaximaTelecom

MOSCOW. May 24 (Interfax) - Macomnet, a joint venture between Rostelecom and Moscow Metro, has increased its ownership of MaximaTelecom to 100% from 76.25%, MaximaTelecom reported in a press release.

The shares were sold by SmartMall LLC, a wholly owned subsidiary of MaximaTelecom, in a deal that was completed on May 22.

"As a result, Macomnet has acquired full control of the operator, expanding its infrastructure and strengthening its positions on the telecommunication market of Moscow, particularly in the segment of projects on transport, as well as supplemented offerings for communication providers, corporate and government customers," MaximaTelecom told Interfax.

Macomnet, which is 51% owned by Rostelecom, acquired 76.25% of MaximaTelecom on March 31. The deal included MaximaTelecom's operator business, including its network in Moscow, competencies for organizing and monetizing wireless communication networks on city transport, as well as Wi-Fi services for passengers, and a portfolio of projects and long-term service contracts.

MaximaTelecom operates a citywide Wi-Fi network in Moscow, and networks on city transport (including subway) in Moscow, St. Petersburg, Kazan and Magadan, as well as at regional airports in Russia. The company specializes in digital solutions and infrastructure projects for cities and sectors of the economy. The group's companies provide technology solutions and implement projects to digitize transport, city services, industrial facilities, the housing and public utilities sector and other key sectors.

Macomnet, founded in February 1993, builds networks for mobile providers and distributed media content transmission systems on transport infrastructure. Rostelecom owns 51% of the company and Moscow Metro owns 49%.