The Rostelecom structure was allowed to buy out Nokia’s share in the joint venture. The corresponding order was signed by Vladimir Putin. The transaction will be completed shortly.
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Vladimir Putin signed an order allowing Restream LLC to purchase 49% of Nokia Solutions & Networks’ shares in the RTK – Network Technologies joint venture with Rostelecom. The document was published on the legal information portal.
The Finnish company Nokia announced its withdrawal from the Russian market in April 2022. Rostelecom stressed that it was impossible to continue the company’s activity with the previous business model.
The parties did not disclose the amount of the transaction or its details. The deal will close soon.
The joint venture between Nokia and Rostelecom was founded in 2018. The Rostelecom structure received 51% of the company’s capital, Nokia – 49%.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
