MegaFon and Kismet Capital-backed Vertical to form a joint venture.

MegaFon, a telecoms operator, and Kismet Capital-backed Vertical, a domestic tower firm, are set to form a joint venture. MegaFon is spinning off its tower infrastructure into a new independent joint venture with Vertical. The deal is set to close by the end of 2021. Financial terms were not disclosed. “The structure of the combined company assumes that neither MegaFon nor any other telecom operator will be able to gain control of the company or a majority in the board of directors," MegaFon.