Russia-based telecom operator MegaFon has increased its stake in Ostelecom from 51 per cent to 75 per cent.

Russia-based telecom operator MegaFon has increased its stake in Ostelecom from 51 per cent to 75 per cent. Ostelecom provides mobile services in the South Ossetia region of the country.

MegaFon took majority control of Ostelecom and Abkhazian operator Aquafon in April 2009. The Russian firm paid $28.5 million for a 100 per cent stake in Debton Investment, which owned 51 per cent stakes in both Aquafon and Ostelecom.