Russia’s antitrust authority has cleared Rostelecom and Tele2 Russia joint venture T2 RTK Holding’s acquisition of RT-Mobile, a key milestone in the creation of the new company.
A spokesperson for state-controlled Rostelecom said the approval by the…
Russia’s antitrust authority has cleared Rostelecom and Tele2 Russia joint venture T2 RTK Holding’s acquisition of RT-Mobile, a key milestone in the creation of the new company.
A spokesperson for state-controlled Rostelecom said the approval by the Federal Antimonopoly Service (FAS) paves the way for the completion of the second and final stage of the JV establishment.
RT-Mobile owns all of Rostelecom’s integrated mobile assets and licences.
Certain legal procedures still need to be carried out before the deal can close, which the operators expect to happen by the end of the year. Upon closing, Tele2 Russia will own 55% of the JV and Rostelecom 45%. Rostelecom will then enter into an MVNO agreement with the JV.
The first stage of the process, completed in March, saw Rostelecom transfer the shares of its mobile subsidiaries to the JV, along with Rbs37bn (US$1.04bn) in debt.
