Russian long-distance operator Rostelecom is in talks to buy a 51.8% stake in leading cableco National Telecommunications from National Media Group, reports Vedomosti.
The daily cited a source who said that NMG will want a payment of at least US$1.5bn,…
Russian long-distance operator Rostelecom is in talks to buy a 51.8% stake in leading cableco National Telecommunications from National Media Group, reports Vedomosti.
The daily cited a source who said that NMG will want a payment of at least US$1.5bn, the valuation of the same stake which it bought from Nafta Moskva in 2008.
According to Telegeography, NTC has 5.1 million cable customers and 300,000 broadband customers as of the end of 2009.
Rostelecom was unavailable for comment by press time.
Separately, Telegeography reported that Vnesheconombank, Russia’s development bank, has denied reports that it is set to sell a 10% stake in Rostelecom.
Vnesheconombank chief Vladimir Dmitriyev was cited saying that while his bank has an option agreement with state-owned telecoms holding company Svyazinvest, no sale is being discussed. Vnesheconombank has a 40% stake in Rostelecom, of which 10% is directly owned, and 30% is owned by its trust management.
