VTB sells stake in Tele2 Russia

October 17, 2013

VTB sells 50% stake in Tele2 Russia

VTB group announces the sale of a 50% stake in Tele2 Russia. The shares were acquired by several strategic investors including Bank Rossiya and Alexey Mordashov entities. The sale price was in line with VTB's expectations. The terms and conditions of the transaction with the prior owner of Tele2 AB have been respected in full. Citigroup and VTB Capital advised VTB Group on the transaction.

Yuriy Soloviev, First Deputy President and Chairman of VTB Bank Management Board, said: "I believe that the new strategic partnership will strengthen the market position of Tele2 Russia and will allow the company to become one of the leaders in the Russian telecommunications market".For reference:

VTB Group acquired 100% of Tele2 Russia from Tele2 AB as a private equity investment on 27th of March 2013. VTB obtained full control of the company for USD 2.4 bln in equity value with a view to support Tele2 Russia in the next stages of its development and then realize its investment.