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Rostelecom buys waste management company Big Three for $16.6 billion

November 19, 2020, 09:39 (UTC+3)|

Rostelecom buys 51% in the Big Three company, which specializes in waste processing automation, for $16.6 billion.

The operator has already signed an agreement for the purchase of 1% and call options for 50% of the shares, which it is selling in the first half of 2021. The Big Three will become part of the Rostelecom group as a subsidiary, while retaining the team.

The main product of the Big Three is the Waste Management platform. This solution will complement the waste processing technologies that Rostelecom already has.

According to Igor Zimin, Vice president for Applied Projects of Rostelecom, the deal solves for the operator the strategic problem of creating another promising business cluster within the company, comparable in potential with such areas as information security and cloud services.

Rostelecom is not the first telecom operator in the waste processing market. For example, MTS has a federal program for the digitalization of waste collection and disposal. The company has developed an ERP system that streamlines the work with municipal solid waste.

Original (in Russian)



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