An ownership change in Russia’s leading cable operator has moved a stage closer.
AKTR and RBK report that Rostelecom’s board of directors have approved the acquisition of a 21.8% stake in National Telecommunications (NTK), the owner of the cableco NKS, for an undisclosed fee.
Rostelecom is understood to have now filed a petition with the Federal Antimonopoly Service (FAS).
Two other subsidiaries of Svyazinvest – Uralsvazinform and North-West Telecom (NWT) – are each planning to acquire 25% in the cable operator, with the total amount being spent by the three companies for a combined stake of 71.8% expected to be $950 million (€696.3 million).
Once the deal goes ahead, local sources believe Svyazinvest will attempt to buy the remaining shares in NTK.
