The Russian incumbent Rostelecom has completed the acquisition of a 50.1% stake in Lukoil’s telecom subsidiary.
Interfax reports that the deal went through Rostelecom’s subsidiary Bashinformsvyaz and the parties agreed on Rostelecom acquiring part of all the remaining shares in the company in 2023.
It adds that although financial details were not disclosed, it is likely to be worth at least R2 billion (€22.1 million).
Rostelecom, which lists the Russian state as its largest (38.2%) shareholder, has already acquired a number of smaller companies this year.
They include Synterra Media and Tele2.