Rostelecom completes first stage of Tele2 merger

31 Mar 2014

Rostelecom has announced that it has completed the first stage of its agreement to establish a joint venture with Tele2 Russia, which will operate as LLC T2 RTK Holding. Following the completion of the first stage of the deal, Rostelecom has contributed the shares of its mobile subsidiaries to the JV, including the likes of SkyLink. Debt obligations amounting to RUB37 billion (USD1.03 billion) were simultaneously transferred to the venture. By closing the first stage of the deal, Rostelecom has received a 45% voting interest and a 26% economic interest in the JV. The second stage of the deal, which will involve transferring all of the company’s integrated mobile assets into the holding company, is scheduled to be completed by the end of this year. CJSC RT-Mobile, a 100% subsidiary of Rostelecom, is expected to be registered on 1 April 2014. Rostelecom’s integrated mobile assets will be transferred to RT-Mobile as part of the reorganisation process.

Russia, Rostelecom, Tele2 (Russia),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share