VTB to offload 50% stake in Tele2 within twelve months

25 Apr 2013

Russia’s VTB Group plans to sell a larger-than 50% stake in mobile operator Tele2 Russia within one year, deputy CEO Herbert Moos told local reporters yesterday. VTB acquired the Russian subsidiary of Swedish telecoms group Tele2 for USD2.4 billion earlier this month, and hopes to sell the mobile operator to a strategic investor, but has ruled out carving up the company and selling off its assets to rival Russian mobile players. Moos commented: ‘We plan to reduce our stake in the company below the controlling [stake] within one year. We are holding talks with all market participants, not only with Russian [companies], but also foreign [operators]’.

Russia, Tele2 Russia, VTB Mobile