VTB consortium reshuffles Rostelecom stake

27 Mar 2020

An investment consortium led by Russia’s VTB bank has restructured the ownership of a 13.1% stake in national telecoms group Rostelecom. The Prime news agency reports that VTB has sold a block of shares to Telecom Investments – a joint venture itself owned by VTB and other members of a consortium which previously owned shares in mobile operator Tele2 Russia, which is now a 100%-held subsidiary of Rostelecom.

As previously reported by TeleGeography’s CommsUpdate, on 17 March 2020 Rostelecom completed the process of increasing its stake in Tele2 Russia from 45% to 100%, a multi-step deal which involved a consortium of investors led by VTB taking 29.4% of Rostelecom’s ordinary shares including 13.1% directly bought by VTB and 16.3% held by other investors. The Russian Federation – via the Federal Agency for State Property Management – remains the largest stakeholder in Rostelecom.

Russia, Rostelecom