Rostelecom and Tele2 merge Russian mobile assets using iDeals™ Virtual Data Room
January 03, 2014
The Board of Directors of Rostelecom OJSC (Moscow Exchange: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, has approved the merger of its assets with Tele2Russia AB (Tele2 Russia), which is equally owned by VTB Capital, the private equity arm of VTB, one of Russia’s largest banks, and a consortium of investors, to create T2 RTK Holding.
The joint venture, T2 RTK Holding, will become a leading player in the Russian mobile market and will have strong positions in regions currently served by Rostelecom and Tele2 Russia, and access to spectrum for next generation mobile services across all of Russia’s federal regions. T2 RTK Holding will have a subscriber base of approximately 38 million (Q3 2013), with revenues of approximately $2.97 billion.
The parties and their consultants implemented the merger using iDeals™ Virtual Data Room platform, which allowed for the secure exchange of deal-related documents throughout the deal-making process.
Rostelecom (www.rostelecom.ru) is a nationwide telecommunications enterprise and the largest universal communications operator in Russia, serving more than 100 million subscribers in 80 regions. Rostelecom offers cutting-edge fixed and mobile telephony, broadband access, pay television and cloud solutions to consumers and businesses.
iDeals™ Solutions has been a provider of secure document management services to the investment, legal and life sciences sectors since 2008. Our flagship product is iDeals™ VDR, a next-generation application that is utilized by companies and leading advisors in over 30 countries around the world.
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