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Rostelecom to invest $166 mln in new asset acquisitions — First VP

Sergey Anokhin added that Rostelecom is exploring a wide range of new markets where investments can be made

MOSCOW, November 15. /TASS/. Rostelecom is going to invest at least fifteen billion rubles ($166 mln) over the next three years in acquisitions of companies and financing of their development, First Vice President and Chief Financial Officer of the Russian telecom corporation Sergey Anokhin told TASS.

"We have achieved such a level overall that we are ready to invest about three billion rubles ($33.2 bln) per year in venture assets. In total, we are likely to plan investing at least fifteen billion rubles in acquisitions of companies and financing of their development," the senior executive said.

Rostelecom is exploring a wide range of new markets where investments can be made, Anokhin noted. "We break the portfolio now down into two sub-portfolio: brownfield companies, more mature ones, with a ready product - more likely to be the replication and strengthening of positions in the market, and a more venture, greener companies with the initial stage of product forming and development," he added.

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Internet & Telecom Rostelecom

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