Rostelecom has announced that it has completed the second and final stage of its deal to create a new national mobile operator in association with Tele2 Russia. As such, Rostelecom has transferred 100% of its shares in its subsidiary CJSC RT-Mobile to the new joint venture (JV). As part of the deal, Rostelecom spun off its integrated mobile assets into RT-Mobile and had its licences reissued to the new entity. After incorporating the relevant amendments into the JV’s charter, Rostelecom will hold a 45% stake in the JV’s share capital.
During the first stage of the deal, which was completed on 28 March 2014, Rostelecom transferred its shares in Sky Link and its other mobile subsidiaries to the JV, along with the assets located in its so-called ‘start-up regions’, which are said to include Moscow and St Petersburg.
According to TeleGeography’s GlobalComms Database, as of 31 March 2014 Tele2 Russia claimed 23.656 million subscribers, compared to Rostelecom’s 14.809 million at the same date. As such, the combined company will preside over a user base of 38.465 million. Further, the enlarged company will boast a footprint spanning 64 regions.