Russian national operator Rostelecom has completed a long-gestating deal to acquire a 100% stake in sister company SkyLink, Bloomberg reports. Under the terms of the previously agreed deal, Rostelecom’s Mobitel unit exchanged a 1.91% stake in its parent company, worth around RUB9.4 billion (USD290.1 million), for a 50% stake in SkyLink, with Rostelecom owner Svyazinvest. Mobitel already held a 50% stake in the mobile operator after the first stage of Rostelecom’s plan to buy out its sister company was approved by the Federal Antimonopoly Service (FAS) in November 2011.
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OVETEL Rostelecom concludes SkyLink takeover; regional rebranding underway
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