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Advance Capital is pleased to announce the acquisition of a 100% stake in South Ural Telephone Company by Uralsvyazinform.

South Ural Telephone Company (brand U.net), founded in 1996, provides telecommunications services including fixed-line telephony, internet access (telematic services), leased lines and other services in Chelyabinsk, Magnitogorsk and Yuzhnouralsk. The company serves approximately 20.5 thousand fixed-line subscribers and around 2.5 thousand broadband internet users.

Pavel Zaitsev, Deputy CEO and Commercial Director at Uralsvyazinform:

“For Uralsvyazinform, this acquisition is attractive as a targeted strengthening of our position in the telecommunications market of the largest cities in the Chelyabinsk Region. YUTK has an established subscriber base, including corporate clients. The company also has strong potential for further growth in broadband internet services, which currently represent the fastest-growing segment of the telecom market.”

Advance Capital acted as a financial advisor to Uralsvyazinform.

The deal value is not disclosed.