VTB closes Tele2 Russia stake sale

News Wireless Russian Federation 17 OCT 2013
VTB closes Tele2 Russia stake sale
Russia's VTB bank has closed the deal on the sale of a 50 percent stake in the mobile operator Tele2 Russia, reports Prime. A consortium of investors including the bank Russia acquired the stake. While the value of the deal wasn't disclosed, earlier reports put the price at around USD 1.8 billion. Citigroup and VTB Capital acted as consultants under the deal. VTB acquired Tele2 Russia from Tele2 earlier this year for USD 2.4 billion. As part of that agreement, Tele2 will share any profit earned on reselling the company.

Categories:

Mobile

Companies:

Tele2,  Tele2 Russia

Countries:

Russian Federation

Tags:

M&A buyouts & divestments

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