December 1, 2021, Moscow — Aspring Capital acted as the exclusive financial advisor to Service-Telecom in its acquisition of Veon’s Russian tower assets for $970 million.
Service-Telecom, a leading independent operator of telecom towers in Russia, successfully acquired National Tower Company, a subsidiary of VEON. This subsidiary has a diverse portfolio of approximately 15,400 mobile network towers throughout the country. The acquisition marks a significant milestone as the first-ever purchase of a mobile operator’s tower assets on the Russian telecom market.
As part of the agreement, VimpelCom and Service-Telecom have entered into a long-term master agreement concerning tower infrastructure services. Additionally, both parties will engage in an ongoing build-to-suit program, which aims to develop up to 5,000 sites by 2029.