Iranian ambassador: Russia honors all commitments on S-300 supplies to TehranWorld October 26, 9:04
Kyrgyz president signs decree on government’s resignationWorld October 26, 8:47
Display of rare impressionist masterpieces from Russian collector wows Parisian art loversSociety & Culture October 26, 8:46
Russia ready to resume humanitarian pauses in AleppoWorld October 26, 7:42
Muscovites commemorate Nord-Ost terrorist attack victimsSociety & Culture October 26, 7:41
Three young men detained in Moscow for throwing flares at US ambassador’s residenceWorld October 25, 22:02
Kremlin gives no comment on alleged US carte blanche to Russia for Aleppo operationRussian Politics & Diplomacy October 25, 21:44
German ARD TV channel to go any length to win case against Russian athlete — lawyerSport October 25, 21:24
Russian, German top diplomats discuss humanitarian situation in Aleppo — ministryRussian Politics & Diplomacy October 25, 20:09
MOSCOW, January 30. /ITAR-TASS/. Major Russian bank VTB may soon become a large minority shareholder in state-owned telecommunications operator Rostelecom by buying stock in a 35 billion ruble, $1.06 billion deal, Kommersant daily reports on Thursday.
Acquisition would give Rostelecom funds to buy out shareholders who opposed a spin-off of the operator’s mobile communications assets for a proposed merger between those assets and another industry player, Tele2 Russia, half owned by VTB, says the report.
This spin-off was voted down at an extraordinary shareholder meeting on December 30 though divestment was backed by the 43%-stakeholding Federal Agency for State Property Management, Rosimushchestvo.
Rostelecom's proposed deal goes to its board for approval next week, sources close to the transaction told the paper.
One source said VTB plans were to buy Rostelecom common stock and stock owned by its subsidiary Mobitel. The proposed 16.6 percent share deal was assessed at around $1.06 billion at market prices.
The parties also plan a forward contract for Rostelecom to buy the shares back in two to three years when the company will have to pay interest calculated on money-market floating rates.