CEO says Rostelecom in serious talks on higher stake in Tele2

MOSCOW, May 18 (PRIME) -- Negotiations on raising a stake of Russian state-controlled telecom operator Rostelecom in its half-owned mobile operator T2 RTK Holding, working as Tele2, are very serious, but a decision will not be ready by an annual meeting of shareholders on June 19, Rostelecom’s President Mikhail Oseyevsky said late Wednesday.

“We’re weighing all upsides and downsides. We hope our decision whatever it will be would be balanced and professional,” Oseyevsky told reporters.

Rostelecom’s management is satisfied with the development of T2 RTK Holding’s business. The state giant’s Chief Financial Officer Kai-Uwe Mehlhorn said growth rates of the mobile operator exceed forecasts, and a positive trend will continue.

Oseyevsky said T2 RTK Holding’s OIBDA margin is rising.

At present, Rostelecom owns 45% in T2 RTK Holding, and the remaining 55% are held by a consortium of VTB Bank, Bank Rossiya, insurance group Sogaz, and businessman Alexei Mordashov.

In late March, Yury Solovyov, first deputy chairman of VTB Bank, said that Rostelecom should raise its stake in T2 RTK Holding to a controlling one.

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