Russian antitrust clears Rostelecom to consolidate 100% in Tele2

MOSCOW, Nov 12 (PRIME) -- Russia’s Federal Antimonopoly Service has approved an application by state-controlled telecom operator Rostelecom to consolidate a 100% stake in mobile operator T2 RTK Holding, working as Tele2, the authority said in a statement on Tuesday.

Rostelecom has 45% in Tele2, while the remaining 55% belong to Tele2 Russia Holding AB, a consortium in which VTB Bank has 50%, Alexei Mordashov’s Invintel B.V. has 40%, and Yury Kovalchuk’s Bank Rossiya has 10%.

President Vladimir Putin signed a decree allowing Rostelecom to consolidate the mobile operator fully. VTB Bank is to buy Rostelecom’s newly issued shares in exchange for its stake in the mobile operator, and the government jointly with VTB Bank and state development bank VEB.RF must keep more than 50% of common shares of Rostelecom.

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