Tele2 ups stakes

23 Feb 2006

Swedish-owned telco Tele2 says it has taken full ownership of four Russian subsidiaries and increased its stake in another. The firm says it now owns 100% of Belgorod Cellular Communications, Smolensk Cellular Communications, Lipetsk Mobile and Oblcom, and has upped its interest in Siberian Cellular Communications to 70%. The stakes were acquired from Center Telecom, North West Telecom and Sibir Telecom, all of which are owned by Russia’s state-backed telecoms operator Svyazinvest. The financials details of the deals were not disclosed.

Russia, Belgorod Cellular Communications, Oblcom, Siberian Cellular Communications, Smolensk Cellular Communications, Tele2 Russia