Rostelecom close to deal to acquire control of Tele2 Russia - report

Nieuws Mobiel Russische Federatie 24 JAN 2019
Rostelecom close to deal to acquire control of Tele2 Russia - report

Russian national operator Rostelecom could become the sole owner of the mobile operator Tele2 Russia soon, reports Vedomosti citing sources familiar with the matter. The report said Rostelecom has already agreed a deal with other shareholders of Tele2 Russia.

Russian state property management fund Rosimushchestvo has prepared a draft decision clearing the increase of Rostelecom's stake in Tele2 Russia to 100 percent.

Tele2 Russia and Rostelecom declined to comment. 

Under the framework of the eventual deal, Tele2 Russia has been valued at RUB 240 billion, and the price could reach RUB 200 billion after taking into account debts of the mobile operator. According to some sources, Rostelecom aims to acquire a controlling stake in Tele2 Russia without acquiring 100 percent.

Rostelecom currently owns a 45 percent stake in Tele2 Russia, and Tele2 Russia Holding AB owns the rest. Russian bank VTB owns a 50 percent stake in this company, Invitel BV holds a 40 percent stake, and a 10 percent stake is held by the bank Russia.

Categories:

Mobiel

Companies:

Rostelecom,  Tele2 Russia,  Invitel

Countries:

Russische Federatie

Tags:

M&A buyouts & divestments

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