Nordea acquires 1% Rostelecom stake from Kerimov

7 Aug 2012

According to an unconfirmed report by Kommersant, Nordea Bank’s Norwegian division has acquired a roughly 1% stake in Russian national operator Rostelecom, from a company owned by Russian billionaire Suleiman Kerimov. The deal is valued at around RUB3.4 billion (USD106.8 million), the newspaper said, citing an unidentified shareholder. Kommersant goes on to report that unidentified investors from Norway and Finland have acquired around 2.5% of the Russian telco over the last two months, although details of the transactions have not been confirmed.

As previously reported by TeleGeography’s CommsUpdate, Kerimov acquired a 5.8% stake in Rostelecom from Yevgeny Yurchenko, previously one of Rostelecom’s most prominent minority shareholders, in November 2011, only to promptly dispose of 3.1% of the stake two months later, to Rostelecom affiliate Mobitel, at a significant profit. It remains unclear whether Kerimov has now disposed of his entire holding in the telco.

Russia, Rostelecom