Rostelecom and Tele2 Russia complete joint venture

Russian operators Rostelecom and Tele2 Russia have finalised negotiations for the creation of a mobile joint venture in the country, Reuters reports.

Rostelecom shareholders approved plans to spin-off its mobile assets in January this year, and the company has since transferred all of its shares in mobile subsidiary, RT-Mobile, to the joint venture.

It has also had its licences reissued to the new entity, where it will have a 45% stake.

State-controlled bank VTB bought Tele2 Russia from Tele2 in April 2013 and later agreed to sell 50% of Tele2 Russia to a group of investors.

VTB will hold a 55% stake in the joint venture.

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