Russian state to sell Kosmos TV stake

The Russian government is to sell the 50% stake in TV service provider Kosmos TV it holds via state broadcasting organisation RTRS.

AFK Sistema, which owns the other 50% of the operator, has an option to purchase the state’s stake. If it declines, the state can put its holding up for auction.

The value of the Russian state’s interest in Kosmos TV has been estimated at around RUB90 million, according to local reports.

Kosmos TV, which operated a wireless cable pay TV services, has suffered a series of setbacks, including the loss of frequencies to mobile operators. The service announced it would shut down in 2012 when the remaining frequencies it uses  were awarded to VimpelCom, Megafon and Rostelecom for LTE services, and has since been involved in litigation challenging that decision. Following a postponement to enable the parties to try to settle, the next hearing in the case will take place this Thursday.

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