Marshall Capital sold its 10.7% stake in state-run fixed-line operator Rostelecom to billionaire Arkady Rotenberg.
Rusetele.com reports that Konstantin Malofeev’s Marshall Capital sold shares to Rotenberg’s Bellared Holdings for an “undisclosed amount,” the company said in the statement.
“We are satisfied with the terms of the deal. It is important for us to have as a buyer a domestic strategic investor who is seriously interested in the long-term development of Rostelecom as a leading national telecoms operator,” Marshall Capital said in a statement.
Rosenberg, whose fortune in road and pipeline construction is estimated by Forbes at $1 billion (€768 million), is a newcomer to the telecoms market.
Rostelecom is Russia’s largest national telecommunications operator with 13 million mobile voice services subscribers and 28 million fixed-line voice subscribers in all Russian regions.
The company reported R238.7 billion (€6 billion) of consolidated revenues and R30.6 billion rubles of net income for the nine months ended September 30, 2012.