Rostelecom-Tele2 Russia takeover plan finalised, approved by government, FAS

13 Nov 2019

Russia’s Federal Antimonopoly Service (FAS) yesterday (12 November 2019) approved the plan of state-backed national telco Rostelecom to increase its stake in cellco Tele2 Russia from 45% to 100%, Interfax writes. Kommersant reported the day before that the government has approved the final scheme of consolidation under which Rostelecom will implement the 100% Tele2 Russia takeover whilst allocating some of its own shares to existing Tele2 shareholders including state-backed bank VTB. The approval conditions include measures ensuring the state retains overall control of Rostelecom for at least four years.

Russia, Rostelecom, Tele2 Russia