20 Nov 2019 13:38

Rostelecom to consider attracting investor to data storage business

MOSCOW. Nov 20 (Interfax) - Rostelecom (RTKM) is hoping to conclude a deal on the purchase of DataLine by the end of 2019, the head of the state operator, Mikhail Oseyevsky, told journalists at the Russia Calling! Forum.

"We want to consolidate by the end of the year," Oseyevsky said in response to a relevant question. He did not specify the size of the deal but said a loan will be taken out.

On Wednesday, the company's board of directors will consider the acquisition of a stake in DataLine, according to Rostelecom documents.

Oseyevsky also said that DataLine will be integrated into the RTK-DC group, which handles Rostelecom's data-center services.

The company will then consider attracting a strategic investor in RTK-DC.

"When we have a big company, it's possible that we'll attract a strategic investor to the data-center development business. It's just an idea for now. Based on estimates, RTK-DC will be a big company and may well be attractive [for investors]," Oseyevsky said, noting that the search for investors will begin in 2020.

The FAS approved the purchase of DataLine this past spring.

Kommersant has reported that the purchase could be made through a Rostelecom subsidiary, LLC Data Storage Center, and that DataLine's market value is 16.9 billion rubles, taking into account its 4.08-billion-ruble net debt.