Russian president Vladimir Putin has approved the increase of national operator Rostelecom's stake in mobile operator Tele2 Russia, reports Prime. Its holding will to be raised from 45 percent to 100 percent.
The bank VTB will acquire an additional issue of ordinary shares in Rostelecom. The state, together with state-owned VTB and VEB, should control more than 50 percent of the shares in Rostelecom.
Rostelecom currently owns 45 percent of the company T2 RTK Holding, and Tele2 Russia Holding AB owns a 55 percent stake. Tele2 Russia Holding is owned by VTB bank (50 percent), Invitel (40 percent) and Rossiya Bank (10 percent).
