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Russia: Ex-monopoly Rostelecom moves forward with Tele2 deal

 |  December 16, 2013

Former landline monopoly Rostelecom announced that its board has approved of a deal to merge its wireless operations with peer Tele2 Russia, reports say.

Rostelecom has been working on such a deal for several months, reports say, in efforts to create a strong competitor to Russia’s current three main players in the mobile industry: MTS, MegaFon and VimpelCom. The three currently control a combined 80 percent of the market.

The new firm will be named T2 RTK Holding, say reports.

Full Content: The Moscow Times

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