Telecoms towers business Russian Towers increased revenues by 35% year-on-year in 2018 to over RUB3bn ($47mn), the company's head Alexander Chub told the press on March 20, as cited by Interfax.
Russian Towers is a leading operator of telecoms towers that broadcast the signal for mobile phone companies, the company explained to bne IntelliNews in an exclusive interview.
About 99% of revenue in 2018 came from the country’s four leading mobile operators: MTS, MegaFon, VimpelCom, and T2 RTK Holding.
The company continued expansion and operated over 4,000 units of infrastructure in 60 regions in 2018 versus to 3,200 in 55 regions in 2017. The share of urban infrastructure in the company’s portfolio increased to 56% in 2018 from 46% in 2017.
In November 2018 Russia’s biggest private equity fund UFG Private Equity bought a large minority stake in Russian Towers from its co-investor Macquarie Russia & CIS Infrastructure Fund (MRIF) for its Fund III.