Mordashov co, Bk Rossiya to get Rostelecom shares via Tele2 deal

MOSCOW, Nov 20 (PRIME) -- A company of Russian businessman Alexei Mordashov and Bank Rossiya, the current shareholders of mobile operator Tele2, will receive shares in state telecom operator Rostelecom as part of Rostelecom’s deal to consolidate 100% in Tele2, VTB Bank First Deputy CEO Yury Solovyov told reporters on Wednesday.

At present, 55% of Tele2 is held by Tele2 Russia Holding AB, which is in turn 50% owned by VTB, 40% owned by Mordashov’s Invintel B.V., and 10% owned by Bank Rossiya of Yury Kovalchuk and its partners. Rostelecom holds 45% in Tele2 and plans to consolidate 100% shares in the company. It said earlier it will transfer 10% of its shares to Telecom Investments, which represents interests of Tele2’ shareholders, but did not disclose its ownership.

“They (Mordashov’s company and Bank Rossiya) will be among shareholders of Rostelecom and those shares, which will be at Telecom Investments, will be further managed by us jointly. This does not apply to a stake that we actually transfer to management in terms of votes on government directive issues,” Solovyov said.

Rostelecom’s deal consists of three parts and is worth a total of 132 billion rubles. The shareholders will consider the deal on December 18.

(63.7730 rubles – U.S. $1)

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