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Rostelecom buys telecommunications business of Lukoil

November 13, 2020, 09:49 (UTC+3)|

Rostelecom announced the signing of legally binding agreements to acquire LLC Lukoil-inform, which represents the telecom business of the Lukoil group.

"The structure of the transaction involves the acquisition of 50.1% of the shares at the time of the transaction, and also provides for the possibility of the buyer and seller selling call / put options, respectively, for the remaining 49.9% of the shares in 2023," the operator said in a statement.

The transaction amount will be at least 2 billion rubles ($25,9 million). Lukoil will maintain the volume of existing contracts for telecommunications and IT services with Lukoil-inform for the next 5 years.

The deal will strengthen Rostelecom's position in the B2B segment, create a center of excellence for digital development of oil and gas companies and provide an opportunity for additional sales of Rostelecom's digital services.

Original (in Russian)


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