July 17, 2015 at 11:37MTS plans to buy NVision Group for 20 billion rubles
MTS plans to buy a loss-making IT contractor NVision Group for 20 billion rubles, sources close to the negotiation report. Overpayment is fourfold, writes Roem.ru. The deal is likely to be completed, despite the dissatisfaction of minority shareholders.
The head of the Prosperity Capital Management fund, a shareholder of MTS and NVision Group, calls the deal unfair and intragroup. “The deal should be submitted for approval to minority investors of the two companies. This is a loss-making asset, there is a direct transfer of the cost of MTS in favor of AFK Sistema. In general, buying assets from the parent is a vicious practice, ”commented Alexander Vasin, director of Prosperity Capital Management.
The sellers of shares are such structures as AFK Sistema - RTI JSC and Sistema Telecom Alliance LLC. Note that from 2012 to 2014, AFK gradually consolidated all 100% of NVision Group, using a subsidiary to acquire shares. As a result, the total cost of the contractor decreased from $ 213 million to $ 88 million.
In addition, over the same period, MTS bought telecommunications equipment, billing systems and software, together with consulting services, for a total of 39.1 billion rubles.
The head of the Prosperity Capital Management fund, a shareholder of MTS and NVision Group, calls the deal unfair and intragroup. “The deal should be submitted for approval to minority investors of the two companies. This is a loss-making asset, there is a direct transfer of the cost of MTS in favor of AFK Sistema. In general, buying assets from the parent is a vicious practice, ”commented Alexander Vasin, director of Prosperity Capital Management.
The sellers of shares are such structures as AFK Sistema - RTI JSC and Sistema Telecom Alliance LLC. Note that from 2012 to 2014, AFK gradually consolidated all 100% of NVision Group, using a subsidiary to acquire shares. As a result, the total cost of the contractor decreased from $ 213 million to $ 88 million.
In addition, over the same period, MTS bought telecommunications equipment, billing systems and software, together with consulting services, for a total of 39.1 billion rubles.