MOSCOW Dec 5 Russian bank VTB sold
its 50 percent stake in Tele2 Russia for 40.4 billion roubles
($1.2 billion), the bank disclosed in its third quarter accounts
statement on Thursday.
VTB bought Russia's fourth-largest mobile operator from
Sweden's Tele2 in April for $3.55 billion.
It struck a deal in October to sell half to a group of
investors including affiliates of Bank Rossiya and entities of
Alexei Mordashov, a billionaire tycoon who controls steelmaker
At the time, it did not name the price of the deal, but the
value had been put at $2 billion, including assumed debt, based
on the price at which VTB has valued the stake on its books. VTB
said at the time it had been a profitable deal.
($1 = 33.1752 Russian roubles)
(Reporting by Oksana Kobzeva; writing by Megan Davies, editing
by Alexei Anishchuk)