Tele2 completes 100% buyout of its Russian operations

13 Jan 2010

Swedish mobile group Tele2 has announced that it has agreed a deal to acquire the remaining 12.5% stake in Rostov Cellular that it does not already own. According to TeleGeography’s GlobalComms Database, Tele2 entered the Russian mobile market in late 2001 via the acquisition of Fora Telecom, inheriting the cellco’s operations in twelve regions: Belgorod, Chelyabinsk, Irkutsk, Kemerovo, Kursk, Moscow, Nizhny Novgorod, Omsk, Rostov-on-Don, Smolensk, the Republic of Udmurtiya and St Petersburg/Leningrad. The firm has since expanded its presence within those regions, both through network expansions and the acquisition of smaller rivals. Tele2 said: ‘This is the last minority stake in Tele2 Russia and after this acquisition Tele2 will own 100% of its Russian operation.’ Tele2 will pay approximately SEK350 million (USD49.6 million) for the stake, with part of the amount to be paid 36 months after the initial completion of the deal.

Russia, Rostov Cellular Communications, Tele2, Tele2 Russia