Rostelecom completed the acuisition of a stake in Tele2 Russia.

Rostelecom, Russia's long-distance telephony provider, completed the acquisition of a stake in Tele2 Russia, a Russian telecommunications company. Financial terms were not disclosed. "The acquisition of the remaining 55% stake in Tele2 Russia provides us with full control of the most successful and rapidly growing mobile player in Russia. The deal transforms Rostelecom into the largest integrated digital service provider in the country. We are consolidating 100% of Tele2 Russia, predominately on a non-cash basis, at a fair fundamental price and attractive multiple for this type of asset," Mikhail Oseevskiy, Rostelecom President.