VTB Capital has acquired a minority stake – pegged at 25 per-cent plus one share – in Tricolor TV, Russia’s biggest satellite television operator. The investment amount is deduced to be in the range of between USD125 and USD175 mln, valuing the operator as as much as USD700 mln. The valuation is considerably lower than last year, when the deal was originally tabled for negotiation.
Tricolor TV was founded in Russia in 2005 and is today the nation’s largest provider of satellite television services. Market research shows that the company is the most popular Pay TV service in Eastern Europe and ranks number 1 in Europe for subscriber base growth. Among its other accolades are the “No. 1 Brand in Russia” and best “Operator Company.” Last year, the company launched its HD services, and now provides no less than 10 HD channels in test mode.
Source – Invest-IQ
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