Sinterra’s General Director Vitaly Slizen
Photo: Dmitry Lekay
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Rostelecom Buys 68% in RTComm.RU for $66m
Rostelecom is buying out 68.41 percent in RTComm.RU from Sinterra to become the single owner of this operator, INTERFAX.RU reported.
The contract of sale was inked Tuesday, Sinterra’s briefer Ekaterina Andreeva told Interfax. The deal is to be closed within two months.
Rostelecom BOD agreed on the deal budget in early April. The amount is around $66 million (1.56 billion rubles).
It was to be quite the opposite deal at first. But Rostelecom twice rejected Sinterra’s offer for the buyout of 31.59 percent in RTComm.RU. According to sources close to Rostelecom, Sinterra was willing to pay less than $20 million for the stake in RTComm.RU. The deal wasn’t concluded, as the parties were unable to agree on the price, Sinterra’s General Director Vitaly Slizen said.
In early March, however, Rostelecom decided not to dispose of its ownership in RTComm.RU but buy out Sinterra’s stake in it.
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