Russia Rostelekom seeks approval to buy Sky Link
Source: Reuters.
Russian fixed-line telecom operator Rostelekom has applied for regulatory approval to buy 100 percent of CDMA mobile network operator SkyLink, the federal anti-monopoly service said on Thursday.
National telecoms group Svyazinvest holds 38 percent of Rostelekom's share capital and 50.67 percent of its voting stock. Some 7.20 percent of Rostelekom's are traded outside Russia in the form of American Depositary Receipts (ADRs).
Sky Link, which is half-owned by Russian services conglomerate Sistema had more than 700,000 subscribers in July last year.
Sistema, whose main assets include Russia's largest cellphone operator MTS, applied last year to buy 50 percent of Sky Link.
