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

Popular

More from author

The White House does not guarantee the implementation of agreements with Kiev under the new president 02:50

US Assistant to the President for National Security Jake Sullivan admitted that there is no guarantee that Washington will comply with the agreement with...

An aircraft belonging to the Armed Forces of Ukraine attacked a target near Belgorod for the first time. Will Russia face more air...

For the first time, a warplane belonging to the Ukrainian Air Force used a weapon to hit a target on Russian territory. A...

Scientists debunked the myth that weight is gained due to late dinner 06/15/2024, 23:48

A study in obese people found that the number of calories per day, rather than the timing of meals, affected weight loss effectiveness. ...

Valieva showed how she pumps her butt 06/15/2024, 22:59

Russian figure skater Kamila Valieva published New post on my Telegram channel. The athlete showed subscribers a part of his strength training, in which he...