Rostelecom board approves 50 bln rbl credit line with Sberbank

MOSCOW, Dec 25 (PRIME) -- The board of directors of Russian state-controlled telecom operator Rostelecom has approved opening a 50 billion ruble credit line with Sberbank, according to the company’s documents, seen by PRIME on Tuesday.

The line will be opened for seven years.

Rostelecom will spend the money on operating, investment, and financial activities, including repayment of the current liabilities to Sberbank, the country’s biggest bank.

(68.4073 rubles – U.S. $1)

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