VTB agrees to buy 44.8% of Rostelecom’s data unit for 35 bln rbl

MOSCOW, Dec 24 (PRIME) -- VTB Bank will own 44.8% of a cloud business of state-controlled telecom operator Rostelecom, Data Storage Center, by investing 35 billion rubles into the unit’s capital, the partners said on Thursday in a statement.

“VTB Bank signed a deal to enter the capital of Rostelecom’s unit Data Storage Center, RTK-TsOD, as a strategic partner. As a result of the deal, VTB will invest in the capital of the unit 35 billion rubles and become the owner of 44.8% in RTK-TsOD,” the bank said.

A Rostelecom spokesperson said that RTK-TsOD comprises the holding’s assets of data processing centers and cloud computing services.

The deal will be closed by the end of 2020 and stipulates an option of an initial public offering of the business of data processing centers and cloud computing services on the base of RTK-TsOD during the next three years.

(75.4571 rubles – U.S. $1)

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