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Rostelekom OAO completes first stage of establishing JV with Tele2 Russia


Friday, 28 Mar 2014 06:01am EDT 

Rostelekom OAO:Completes first stage of the deal to establish a joint venture with Tele2 Russia, which will operate as LLC T2 RTK Holding.As a result, Rostelecom has contributed the shares of its mobile subsidiaries to the JV, including CJSC Sky Link, as well as the assets of its start-up regions which include Moscow and St Petersburg among other regions.Debt obligations amounting to 37 billion Russian rubles were simultaneously transferred to the JV.By closing the first stage of the deal, Rostelecom has received a 45 percent voting interest and a 26 percent 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 JV, is scheduled to be completed by the end of this year.CJSC RT-Mobile, a wholly owned subsidiary of Rostelecom, is expected to be registered on April 1.Rostelecom's integrated mobile assets will be transferred to RT-Mobile as part of the reorganisation process. 

Company Quote

9.65
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24 Dec 2014