Rostelecom consolidates 100% of SafeData
Rostelecom PJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that the Board of Directors has approved the purchase of an additional 49.9% of the share capital of LLC Data Storage Centre (operating under the SafeData brand). SafeData is Russiaís largest provider of commercial data centres, traffic exchange service and content delivery. The transaction will increase Rostelecomís share participation in the SafeData Group of companies to 100%. The transaction is worth RUB 2,255 million.
The deal presents Rostelecom with the opportunity to acquire a full control over a growing business at price which does not factor in the potential from some prospective projects that SafeData is working on, including the creation of a mega Data Center in Udomlya.
«When we first acquired SafeData stake in 2015, we ensured that further stock purchases would be permitted through option agreements with shareholders to provide us with a controlling interest in the company. The Data centre space has become a important part of our business, and we see huge potential for the further development of this sector. Our 100% participation in SafeData provides us with more flexibility and a competitive advantage to execute a number of large scale projects.»