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Rotenberg buys 10.7% stake in Rostelecom

March 4, 2013 07.49 Europe/London By Robert Briel

Arkady RotenbergMarshall 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.

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Filed Under: Central & East Europe, Finance, Newsline Tagged With: Rostelecom, Russia Edited: 4 March 2013 08:42

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About Robert Briel

Arnhem-based Robert covers the Benelux, France, Germany, Austria and Switzerland as well as IPTV, web TV, connected TV and OTT. Email Robert at rbriel@broadbandtvnews.com.

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