Russia’s Comstar-UTS, its subsidiary MGTS Finance and Rostelecom have agreed a deal involving the sale of Svyazinvest.
Under it, Rostelecom will acquire 25% plus one share in Svyazinvest for R26 billion (€673.4 million), with the proceeds of the sale being used by Comstar to reduce its outstanding debt to Sberbank.
Svyazinvest is Russia’s leading telco, while Comstar-UTS has extensive fixed line and pay-TV interests in Moscow and other parts of the country.
