OREANDA-NEWS. Rostelecom PJSC, Russia's national telecommunications operator, today announces that its Board of Directors has approved the increase of its stake in Digital Television, a joint venture (JV) with the All-Russia State Television and Radio Broadcasting Company ("VGTRK"), to 41.3%.

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%.