JSC Rostelecom announced in May, 2012 that its 100% subsidiary company JSC NTK became the winner of an auction on purchase of 1,740,000,000 ordinary shares (or 26% of authorized capital) to JSC Mosteleset. Purchase price of stocks of JSC Mosteleset is 1,800,000,000 rubles. According to rules of an auction agreement signature of purchase and sale and closing of the transaction is planned in the nearest future.
With acquisition Rostelecom through the subsidiary company JSC NTK will receive 26% of shares of JSC Mosteleset 100% control over the company. JSC Mosteleset through the 100% subsidiary company JSC Mostelecom own data networks and cable television in Moscow on which subscribers of NTK Group in Moscow are serviced. In addition JSC NTK possesses (through JSC Mosteleset) 51% of stocks of JSC Macomnet owning a communication network in Moscow Metro and servicing a part of corporate clients of NTK.
According to the President of JSC Rostelecom Alexander Provotorov, "consolidation of 100% of Mosteleset will allow to integrate more fully network infrastructure of "NTK" into structure of Rostelecom, to carry out legal reorganization and as a result to optimize a management structure an asset. Rostelecom will be able to consolidate 100% of profit of Mosteleset in the consolidated statements. Besides, the controllability the operator increases, the possibility of carrying out more operational and flexible policy in the field of capital construction and upgrade of network for high-quality ensuring service of subscribers of Moscow appears", – A. Provotorov emphasized.
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