Rostelecom is set to become the sole owner of National Telecommunications (NTK), one of the leading pay-TV companies in Russia.
Kommersant reports that Rostelecom’s board will next Tuesday consider the acquisition of the remaining 28.2% stake in the company it does not already own for a fee of R13.8 billion (€350.6 million).
Rostelecom acquired 71.8% of NTK in February 2011 for a reported R27.8 billion.
The remaining shares are understood to be currently owned by Gazprombank and VTB Capital, with Sberbank having sold its stake to Gazprombank.
NTK accounted for 19% of the cable TV market in Russia in H1 last year and Rostelecom a further 4%.
