Rostelecom completes NTC acquisition

Rostelecom has completed its acquisition of a 28.2% stake in Russian cable operator NTC, taking it to 100% ownership of the company.

Rostelecom began the consolidation of NTC in February last year by acquiring a 71.8% stake. NTC reportedly turned in revenues of RUB10.8 billion (€280 million) last year, up 14%, while OIBDA was RUB4.4 billion, up 27%. The company had 195,000 digital pay TV subscribers, up 59%, and 530,000 broadband subscribers, up 39%.

The merger with Rostelecom is expected to generate synergies of RUB2 billion by 2015.