Putin allowed Rostelecom to buy Nokia’s shares in Russian joint venture 19:07

Putin signed a decree allowing the company Restream to acquire Nokia’s 49 percent stake in the Russian joint venture RTK – Network Technologies. corresponding document published on the official legal information portal.

Rostelecom and Finnish telecommunications giant Nokia established a joint manufacturing venture in September 2019. As part of the import substitution policy in Russia, it was engaged in software development and production, as well as communications networks equipment. As mentioned earlier, the Finnish side was ready to invest up to 10 billion rubles in the project.

Following the start of SVO in Ukraine and the imposition of sanctions against Russia, Nokia announced its withdrawal from the Russian market. However, according to the Ministry of Digital Development, this situation should not have affected the quality of mobile communications in the country.

51% of the controlling shares in the joint venture belonged to the Rostelecom structure – Westelcom, the remaining 49% belonged to Nokia. Now, following the presidential decree, Restream (also part of the state operator’s circle) will be able to purchase Finnish shares and consolidate 100% of the joint venture.

Before that Vladimir Putin’s It allowed Oil Service Technologies LLC to acquire Baker Hughes’ assets in Russia.

Previously in Russia started Calculator for exchange of blocked assets.

What are you thinking?

Source: Gazeta


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