March 14, 2019 / 11:49 AM / a year ago

Rostelecom may pay for Tele2 Russia stake with shares - Deputy PM

MOSCOW, March 14 (Reuters) - State-controlled telecoms operator Rostelecom could partially pay for a 55 percent stake in Tele2 Russia with its shares, Russian deputy prime minister Maxim Akimov said on Thursday.

Rostelecom chief executive Mikhail Oseevskiy said earlier this week the company had agreed terms for consolidating the stake in Tele2 Russia, without going into details.

Rostelecom currently has a 45 percent stake in Tele2 Russia, Russia’s No.4 mobile phone operator. VTB and its partners own 55 percent of shares in the company.

Akimov added that owners of Tele2 Russia will get shares in Rostelecom, but the government will keep control.

Andrei Kostin, the CEO of VTB, said earlier on Thursday the state-controlled lender might get a stake in Rostelecom under the deal.

Mobitel, Rostelecom’s subsidiary, has a 12.01 percent stake in the telecoms operator, according to Rostelecom’s website.

That stake is valued at around 23.5 billion roubles ($359 million), ATON analysts said.

According to business daily Kommersant citing an undisclosed source close to Rostelecom, Tele2 is valued at 186 billion roubles, while Vedomosti daily reported Tele2’s valuation in the region of 240 billion roubles. ($1 = 65.4575 roubles) (Reporting by Darya Korsunskaya and Vladimir Soldatkin in MOSCOW, writing by Anna Pruchnicka in GDYNIA; Editing by Elaine Hardcastle)

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