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VTB announces next phase of successful investment in Tele2 Russia

 
6 February 2014

© photoexpress.ru

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.

Tags:
Tele2

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