Russian long-distance operator Rostelecom has applied for regulatory approvals to buy 25% plus one share in state-owned telecoms holding company Svyazinvest, according to media reports.
Rostelecom has agreed to buy the stake from Comstar UTS for…
Russian long-distance operator Rostelecom has applied for regulatory approvals to buy 25% plus one share in state-owned telecoms holding company Svyazinvest, according to media reports.
Rostelecom has agreed to buy the stake from Comstar UTS for Rbs26bn.
The Russian government is backing the reorganisation of Svyazinvest, which will see the telecoms holding company’s regional subsidiaries merged into Rostelecom.
Svyazinvest holds 51% of Rostelecom and its regional operators are Central Telecommunication Company, North-West Telecom, VolgaTelecom, Southern Telecom Company, Uralsvyazinform, Sibirtelecom and Dalsvyaz.
The Federal Property Agency holds 75% minus one share in Svyazinvest.
The company was not immediately available for comments.
