Rostelecom increases share in JV with VGTRK to 41%
As part of an additional share issue, the Company will acquire RUB 2 billion of the JV's ordinary shares. The proceeds from the deal will largely be used to develop the JV's business in Latin America.
The JV has grown steadily since it was founded, and it has built up a portfolio of promising projects, including those related to producing, marketing and distributing pay-TV channels and Russian digital content in foreign markets. The JV has also been focused on creating new Russian thematic channels based on foreign content.
Prior to the transaction, Rostelecom's share in the JV stood at 25.33%.
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