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Russia: $2B telco sale fuels talk of joint venture between rivals

By  |  October 13, 2013
Russia: $2B telco sale fuels talk of joint venture between rivals

According to reports, Russian lender VTB has reached an agreement to sell-off 50 percent of its Tele2 wireless operator to a group of investors in a deal valued at $2 billion. The deal, reports say, may set up a possible combining of Tele2 and rival Rostelecom.

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    Investors had long-speculated of a joint venture between the two rivals; reports last month announced Rostelecom had hired advisors to discuss a possible joint venture.

    The consolidation could pose new competitive threats to Russia’s current top three players, MTS, Megafon and Vimpelcom.

    VTB only acquired Tele2 last April for $3.6 billion.

    Full Content: Reuters

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