The owner “X Holding” Anton Cherepennikov to the end of the year sell it to the USM holding Alisher Usmanov in exchange for a 10% stake in the combined company “Wesam Telecom”, which includes “the Megaphone”. This Association will enable “X-Holding” to attract more customers in the corporate and public sector, and “to the Megaphone” to increase expertise in the field of digitalization of industries, and the Alliance will increase the value of their assets to 700 billion rubles, experts say.The USM holding Alisher Usmanov established a holding company “Wesam Telecom”, which will bring together the key assets of the holding company in the field of telecommunications and IT to the end of the year will acquire 100% of the group “X holding” Anton Cherepennikov, told “Kommersant” in USM. In “X holding” includes more than 25 IT companies, including “the Citadel”, “Outpost”, Yadro, “Kryptonite” and Nexign. The transaction will be structured through an exchange of shares in companies. The founder of the “X Holding” Anton Cherepennikov the transaction will receive 10% of shares of “Telekom Wesam”, 80% will remain with USM, 10 more% — at General Director USM Ivan streshenskogo, who will lead and “Wesam Telecom”. The General Director of “MegaFon” chief Vermesan and CEO of “X Holding” Anton Cherepennikov will maintain positions in companies, while Mr. Cherepennikov will be the operational Director of “Wesam Telecom” and will join the Board of Directors of the company. Merging the strengths of “MegaFon” and “X Holding” will allow holding to become the largest in the CIS and Eastern Europe, a supplier of digital services and solutions, confident in USM.”X holding” registered in December 2018, the structure of the work including in the market of solutions for the systems of operative-investigative measures (SORM). In GK “the Citadel” consists of the developers of these solutions, “MFI Soft” and “Signatek” — they were in the list of seven companies, whose equipment operators may use to meet the requirements of the “law of Spring” (such a list two years ago was the Ministry of communications). The largest customers of “MFI Soft” are the “MegaFon” and “Rostelecom”. In 2018, “the Megaphone” has bought from the company’s storage system for the execution of the “Spring law” on 923,5 million rubles., and “Rostelecom” in 2019 spent on this equipment is about 3 billion roubles, informed “Vedomosti”. “X holding” participates in the Alliance “Rostelecom” and “assistance” in the development and production of storage systems for the implementation of the “Spring law”.”MegaFon” has sold his company “America”, which is developing technology based on the blockchain. “X holding” has redeemed from the structures of the USM developer of billing system “Peter-Service”, which supplied billing “the Megaphone”.Business “X Holding” largely supported by the USM, his main customer is the “Megaphone”, so we cannot say that there is a Union of two independent companies, says analysistick “Renaissance Capital” Alexander Vengranovich. The transaction is structured in such a way that, getting 10% in the “Wesam Telecom” Anton Cherepennikov actually retains a stake in “X Holding” and receives a share in “MegaFon”, which is now worth more than 500 billion rubles, he States.Consolidated revenue of “X Holding” by the end of 2018 accounted for about 80 billion rubles with growth by at least 15% in 2019 it could be worth more than 90 billion rubles, he says. “Given the fact that the EBITDA of this business is not very high and can be estimated at 25%, with the multiplier in six EBITDA capitalization of the holding can be estimated at about 140 billion rubles”,— said Mr. Alexeev. Thus, the cost of “Wesam Telecom”, including “X holding”, may amount to about 700 billion rubles, he says.According to Mikhail Alexeyev, the parties to the transaction expect that by combining the assets price will rise, because “X holding” will be able to attract more customers from the sectors of B2B and B2G, which operates MegaFon and MegaFon will receive unprecedented expertise and resources. “In the history of “MegaFon” there were a lot of transactions that have caused a mixed reaction in the stock markets, including the acquisition of Skartel, “Euroset”, buying and selling Mail.ru Group”,— said Mr. Alexeev. But, he adds, the current deal is logical and reflects the evolution operator from the creation of the Telecom products for the retail market to build products for the digital transformation of industries.Julia Silence
