ER Telecom and the Renova Group have agreed to continue exclusive talks on the sale of Akado to the former until the end of the year.
In a joint statement, the two parties say they are looking to develop an “optimal model for the interaction”, without going into any specific details.
ER Telecom is one of the leading cable companies in Russia and acquiring Akado, which operates in Moscow, St Petersburg and Yekaterinburg, would allow it to enter the lucrative Moscow market.
Renova-owned Akado has been on the market for over three years and in that time attracted interest from a number of prospective buyers, including Svyazinvest and MTS.
A deal with ER Telecom was agreed earlier this year and exclusive negotiations got under way in the summer.
However, the deal looked close to collapse as recently as last week.
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