Rostelecom unit acquires 7.45% stake held by Gazprombank

18 Nov 2013

Russian national operator Rostelecom has unveiled a deal worth RUB25.2 billion (USD773.2 million) to buy out the 7.45% stake held by prominent minority shareholder Gazprombank. The stake will be acquired through holding company Mobitel, which currently holds a 5.3% stake in Rostelecom; the company was previously used to snap up shares held by a number of dissenting shareholders who did not support Rostelecom’s 2011 structural reorganisation. According to Reuters, Gazprombank, held the stake on behalf of investor Konstantin Malofeyev as part of what it refers to as a ‘complicated ownership structure’.

Russia, Rostelecom