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VTB Acquires 100% of Tele2 Russia

Published: March 27, 2013 | 11:04 pm
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The logo of VTB Bank is displayed on the roof of a building in Moscow

(CNA)- VTB is acquiring Tele2 Russiafor USD 2,4 bln in equity value. As a strong and reputable financial investor in Russia, VTB claims to be well positioned to support Tele2 Russia in the next stage of its development with a view to realize its investment, says 4-traders.
“We believe that Tele2 Russia is a good financial investment which will be growing faster than the market. The company has a solid track record of growth and profitability in Russia, and a strong regional position as the 4th Russian mobile operator with almost 23 million subscribers. VTB plans to cooperate with financial and strategic partners in order to further develop it’s investment.”Andrey Kostin,VTB President and Chairman.”
“We have built a very successful Russian mobile business of almost 23 million subscribers, skilled employees and strong profitability, under a strong brand over the last 12 years. This transaction crystalizes that success. We wish VTB well in continuing to build a mobile operator in a significantly developing market. Tele2 will carry on investing in and seizing opportunities that surging mobile data usage is creating in our core markets: Sweden, the Netherlands, Norway and Kazakhstan.”Mats Granryd,President and CEO, Tele2.

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