OREANDA-NEWS. Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, today announces that Rostelecom's subsidiary LLC Mobitel has agreed to acquire 7.45% of Rostelecom's ordinary shares from OJSC Gazprombank in a transaction worth RUB 25,2 billion. The deal sees Mobitel's share of Rostelecom's ordinary shares increase to 9.38%.

Gazprombank has also simultaneously obtained a stake in Rostelecom.

Sergey Kalugin, President of Rostelecom, commented: "This deal marks the completion of a certain period in the Company's history. We are delighted that Gazprombank has joined our investor base having acquired the stake in the Company. Gazprombank's acquisition follows the recent RUB 7.7 billion investment in Rostelecom by the Russian Direct Investment Fund and Deutsche Bank, deals which reflect the company's desire to work with institutional investors with expertise in global TMT markets".

Maria Florentieva, Vice President of Strategic Planning and Investor Relations commented: “The stake acquired by Mobitel may be used for transactions (including capital markets deals) aimed at diversifying shareholder structure of Rostelecom, and the success Rostelecom had in 2013 in terms of improving transparency and efficiency, updating our strategy and consolidating Svyazinvest's assets, provides plenty of upside potential on Rostelecom's fundamental value.”