National Telecommunications (NTK), a subsidiary of Russian telco Rostelecom, has won a tender to acquire a 26% stake in Mosteleset for a total cash consideration of Rbs1.8bn (US$57m) – a deal which will see Rostelecom take total control of the…
National Telecommunications (NTK), a subsidiary of Russian telco Rostelecom, has won a tender to acquire a 26% stake in Mosteleset for a total cash consideration of Rbs1.8bn (US$57m) – a deal which will see Rostelecom take total control of the company.
Rostelecom already owns a 74% stake in Mosteleset, owner of Moscow cableco Mostelecom, via NTK.
The NTK group of companies currently use Mostelecom’s data and pay TV networks to service their own subscribers.
Rostelecom CEO Alexander Provotorov said the deal will enable the company to consolidate its network infrastructure and streamline its asset management structure.
“Additionally, it becomes easier for Rostelecom to manage Mosteleset and it gives us the flexibility to carry out capital construction and network modernisation programmes quickly in order to provide high quality services to Moscow subscribers,” he said.
Rostelecom expects the sale agreement will be signed and the transaction concluded “in the near future”.
