MOSCOW (Reuters) - Russian state lender VTB VTBR.MM has finalised the sale of a 55% stake in mobile phone operator Tele2 Russia to state telecoms group Rostelecom RTKM.MM, the companies said on Wednesday.
VTB has held a stake in Tele2 since 2013, a period in which the lender’s CEO, Andrey Kostin, said Tele2 had grown from a niche mobile phone operator into a national player.
The bank will receive 108 billion roubles ($1.71 billion) from the sale of 45% of Tele2 Russia’s shares and also exchange a further 10% of Tele2 Russia’s shares for 10% of Rostelecom’s ordinary shares.
Reporting by Tatiana Voronova; writing by Tom Balmforth; editing by Maria Kiselyova
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