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Newspaper: SMARTS shareholders prepare Penza branch for buyout

11:20 | 24.11.2014 | Economy

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Penza, 24 November 2014. PenzaNews. SMARTS, one of the largest regional mobile phone service providers, continues selling its assets. The shareholders plan to sell two branches of the company in Penza and Astrakhan.

Newspaper: SMARTS shareholders prepare Penza branch for buyout

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The shareholders approved the plans to reorganize the company by separating off “SMARTS-Penza” and “SMARTS-Astrakhan” as separate legal bodies, adding them to the recent list which already contains “SMARTS-Saratov,” “SMARTS-Ulyanovsk” and “SMARTS-Samara.” Before that, the company had separated from “SMARTS-Yoshkar-Ola,” “SMARTS-Saransk” and “SMARTS-Elista”: however, these changes have not been officially reported as of now.

Before 2013, SMARTS provided mobile services in 13 regions of the country. The company has been negotiating to sell off its assets for many years, but failed to find any buyers due to internal conflict between shareholders. As a result, owners of SMARTS decided to sell the company in parts.

In July 2013, the company sold its “SMARTS-Kazan” branch in Tatarstan to the local provider “Tattelecom.” Earlier this year, SMARTS sold “SMARTS-Volgograd” to MegaFon for 46 million rubles. According to “Kommersant,” “Vympelcom” (Beeline) is currently in the process of negotiating the buyout of three branch companies.

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