MegaFon in Acquisition of 100% Interest in GARS

September 18, 2015

Cleary Gottlieb represented PJSC MegaFon, a leading Russian telecommunications operator, in acquisition of 100% interest in GARS Holding Limited from the companies Stayblon Limited and Giacomodex Finance Limited. GARS is a building local exchange carrier, providing a full range of fixed-line telecommunication services to the tenants of class А, В and С business centers. It holds a leading position in revenue terms among second tier providers operating in the Moscow and North-West regions. The deal is aimed at enhancing MegaFon’s fixed-line presence in business centers in Moscow and expanding its share in B2B market. The transaction was completed on September 18, 2015.