Russian state-controlled banking group VTB CFO Herbert Moos has said the organisation intends to divest a controlling stake in recently-acquired mobile operator Tele2 Russia within a year.
The bank is discussing the matter with both Russian and foreign…
Russian state-controlled banking group VTB CFO Herbert Moos has said the organisation intends to divest a controlling stake in recently-acquired mobile operator Tele2 Russia within a year.
The bank is discussing the matter with both Russian and foreign investors, Reuters quoted Moos as saying at a press briefing at VTB’s Moscow headquarters today.
Commenting on the report, the VTB Bank press office said the group “plans to support the development of Tele2 Russia business with a further view to realise the investment. We are absolutely open for cooperation with any market players, both Russian and foreign”.
VTB acquired the Swedish Tele2 group’s Russian business in a rapidly-completed deal worth US$3.55bn early this month. Offers from Alfa Group Consortium investment arm, A1, and operators MTS and VimpelCom in partnership were rejected.
Last week, VTB CEO Andrei Kostin told media the group plans to increase Tele2 Russia’s market value before on-selling it. He ruled out the possibility of selling off the asset in small parts.
Following its failed joint bid with VimpelCom, MTS said it planned to discuss in-country consolidation with VTB. An MTS spokesperson today declined to comment on the matter further.
Spokespeople for VimpelCom and Rostelecom also declined to comment. A spokesperson for A1 said the organisation is aware of the latest developments, but declined to comment further.
