23 Jun 2022 18:22

Rosatom entity to have 33% stake in satellite communications operator

MOSCOW. June 23 (Interfax) - JSC Atomenergoprom (a Rosatom entity) has acquired 33% of shares in Amtel, a satellite communications operator, the company said in a statement.

Rosatom received these shares on June 22.

The value of the acquired stake was not disclosed earlier. As was reported, the corresponding package of documents was signed last week. It is expected that this will help create telecommunications infrastructure in the area of the Northern Sea Route (NSR).

Rosatom called the deal a portfolio investment aimed at development of the satellite communications business. Rosatom does not plan to conduct operational management at Amtel.

Amtel Group is one of the leading satellite communications operators in Russia, providing telecommunications services based on VSAT-technology. Amtel has been on the Russian satellite communications market since 2004, and is one of the three leading companies in Russia in terms of the number of vessels connected to VSAT. The company has 7 spacecraft, which provide full coverage of the entirety of Russian territory (5 satellites from FSUE Space Communication, 2 satellites from Gazprom Space Systems).

Rosatom became the operator of Northern Sea Route infrastructure development, including the nuclear-powered icebreaker fleet, in 2018. At the same time, Rosatom and the Transport Ministry disagreed over administrative functions during discussions on the division of authority for the NSR. In early June 2022, the State Duma passed in the first reading a bill which centralizes in Rosatom the authority for management of NSR navigation.