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Baring Vostok sells ER Telecom stake

January 4, 2021 09.01 Europe/London By Chris Dziadul

The Russian telco ER Telecom has announced a new ownership structure.

It follows the sale of a 16.3% stake in the company by Dehus Dolmen Nominees (representing the investment fund Baring Vostok) and Enforta to PFIG Overseas Invest Holding, representing the interests of Andrey Kuzyaev.

As a result of the deal, PFIG’s interest in ER Telecom has increased from 70.9%% to 87.29%.

Although no financial details have been disclosed, industry sources believe the transaction could be worth up to R9 billion (€99.5 million).

ER Telecom is the second largest provider of internet services in Russia and also one of the country’s leading pay-TV operators, employing the Dom.ru brand.

Baring Vostok initially bought a 10% stake in ER Telecom in 2010.

It was increased six years follow its acquisition of the wireless operator Enforta.

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Related

Filed Under: Cable, Central & East Europe, Newsline, Platforms Tagged With: Baring Vostok, ER Telecom, Russia Edited: January 4, 2021 09:01

About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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