Tele2 Russia unveils corporate reshuffle with new holding company

25 Oct 2013

Tele2 Russia has announced that its regional subsidiaries are now controlled by a new holding company, LLS T2 Rus Holding, which is itself owned by the VTB Group and falls under Russian jurisdiction. Prior to the reorganisation, all regional Tele2 affiliates were controlled by Sweden-based Tele2 Russia Holding AB.

According to TeleGeography’s GlobalComms Database, VTB acquired Tele2 Russia from Sweden’s Tele2 Group in April 2013 for USD3.55 billion, including debt. Last week it was confirmed that Invintel (40%) and ABR Investments (10%), a pair of investors affiliated to St Petersburg-based bank Rossiya, had each taken a stake in the cellco.

Russia, Tele2 Russia, VTB Mobile