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. Last Updated: 07/27/2016

Usmanov Creates Garsdale

Businessman Alisher Usmanov's AF Telecom transferred its 50 percent stake in mobile operator MegaFon to Garsdale, while Russian Technologies and Telconet Capital contributed their 100 percent shareholding in Skartel to the new company, Interfax reported on Monday.

Usmanov will hold 82 percent in Garsdale, and Russian Technologies and Telconet Capital will jointly own 18 percent.

Garsdale's management will be responsible for the strategic development of MegaFon and Skartel, while operating management will remain in the hands of their management. Skartel and MegaFon will continue to offer services under their own brands.

Under the terms set by the Federal Anti-Monopoly Service, Garsdale will have to offer indiscriminate access to LTE networks to other operators.