VTB: no carve-up planned for Tele2

16 Apr 2013

Russia’s VTB Group has no immediate plans to carve up Tele2 Russia and sell off the mobile operator in parts, CEO Andrei Kostin told the Prime-Tass news agency. However, he noted that VTB is likely to sell the mobile operator after its value increases. Kostin commented: ‘We will take part in raising its market value before we sell the asset. There could be several options – excluding dividing [Tele2 Russia] into small parts – for sale. Instead, there could be some mergers and the assignment of additional licenses. I think it is premature to say that we are in ‘serious talks’ with someone [on the sale]’. VTB representatives are set to work alongside the operator’s management to draw up a twelve-month plan to improve the operator’s market value, Kostin added.

Russia, Tele2 Russia, VTB Mobile