The head of the Russian antitrust authority has reportedly come out in favour of a potential tie-up between the VTB Group’s recently-acquired Tele2 Russia and state-controlled Rostelecom.
Russian news agencies Interfax and RIA Novosti quoted Igor…
The head of the Russian antitrust authority has reportedly come out in favour of a potential tie-up between the VTB Group’s recently-acquired Tele2 Russia and state-controlled Rostelecom.
Russian news agencies Interfax and RIA Novosti quoted Igor Artmeyev, head of the Federal Antimonopoly Service (FAS), as saying that a Rostelecom-Tele2 combination would create a “powerful” fourth player in the market. Russia’s three largest mobile operators are MTS, MegaFon and VimpelCom.
“On first approach, I like the idea,” he was quoted as saying.
Last week, FAS, which approved the Tele2 Russia sale in early April, said it would not welcome a merger between the company and one of the big three operators.
The state-controlled VTB Group’s recent purchase of Tele2 Russia from its Swedish parent company in a deal worth US$3.55bn has sparked considerable speculation about who the mobile operator might be resold to.
Earlier this week, VTB CFO Herbert Moos told reporters that the bank intends to divest a controlling stake in Tele2 Russia within a year and is discussing the matter with both Russian and foreign investors. The previous week, Moos told reporters that VTB would work with the operator’s management to increase its value before selling it.
MTS and VimpelCom in partnership and A1, an investment arm of Mikhail Fridman’s Alfa Group, also bid for Tele2 Russia. MTS, VimpelCom, Rostelecom and A1 have all declined to comment on whether they are now in talks with VTB about Tele2 Russia.
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