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VTB announces next phase of successful investment in Tele2 Russia

6 February 2014


VTB Group and its partners, Bank “ROSSIYA” and entities controlled by Alexey Mordashov, announce the merger of the mobile assets of Tele2 Russia with the mobile assets of Rostelecom into a single company, T2 RTK Holding. The mobile operator will continue to operate under the well-established and popular Tele2 brand. VTB and its partners will own at least 55% of the new company, with Rostelecom having a 45% stake.

During the first phase of the integration, Rostelecom will transferal its mobile subsidiaries – including SkyLink, Nizhegorodskaya Sotovaya Svyaz, Baikalvestcom, BIT, Volgograd GSM, Yenisey Telecom and AKOS – to the new company. In the second phase, Rostelecom will transfer its integral mobile assets.

The new company will provide services in more than 60 regions across Russia to a subscriber base of about 38 million people.

The agreement opens up new opportunities for Tele2 Russia. It will gain licenses (2G/3G/4G) to expand mobile coverage across all 83 regions of Russia, including Moscow, and provide a wide range of services including high-speed mobile internet access.

First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev
«Tele2 Russia has built an efficient and very profitable business, which has been a successful investment for VTB Group. The Tele2 management team will continue to develop the new, joint company. The creation of a new national operator will play a vital role in the development of Russia’s telecoms market, offering users additional choice and providing access to high-quality and affordable mobile and internet connections.»
Yuri Soloviev,
First Deputy President and Chairman of VTB Bank Management Board

For reference:

VTB Group acquired 100% of Tele2 Russia from Swedish operator Tele2 AB as a private equity investment in April 2013 with a view to supporting Tele2 Russia in the next stages of its development and subsequently realising its investment. In October 2013, VTB Group sold a 50% stake in Tele2 Russia to strategic investors including Bank “ROSSIYA” and entities controlled by Alexey Mordashov for a price in line with VTB’s expectations.


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