Mobile operator Tele2 Russia is reportedly among the first candidates to be considered for a new government-led project financing scheme.
The VTB Group, a Tele2 Russia shareholder, has applied to the relevant interdepartmental commission for loans to…
Mobile operator Tele2 Russia is reportedly among the first candidates to be considered for a new government-led project financing scheme.
The VTB Group, a Tele2 Russia shareholder, has applied to the relevant interdepartmental commission for loans to fund the rollout of 3G and 4G networks, local newspaper Vedomosti reported.
The first loan would reportedly be used to deploy the networks in Moscow, while the second would be used to construct them in other regions.
The new project financing scheme, approved by the government last year, allows borrowers to obtain fixed-rate loans from the central bank with a maximum interest rate of 11%, the report stated.
Under maximum funding limits, Tele2 Russia would reportedly be able to receive up to Rbs16bn (US$243m) for each of the two projects.
Tele2 Russia and state-controlled VTB Group, which includes VTB Bank, declined to comment on the matter.
Tele2 Russia and state-owned telco Rostelecom merged their mobile assets last year to create a new federal operator: T2 RTK Holding, which operates under the Tele2 Russia brand. Tele2 Russia shareholders – including VTB, SOGAZ Insurance Group and entities of Russian billionaire Aleksey Mordashov – own 55% of the new JV, while Rostelecom owns 45%.
