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ROSYY - Rostelecom Dissapoints With Tele2 Deal Details; Back To Neutral
PJSC Rostelecom ADR
Rostelecom (OTCQX:ROSYY) disclosed the parameters of its Tele2 acquisition which are nowhere near as attractive as investors previously expected. Even though Tele2 is one of the most rapidly developing telecoms in Russia, the premium Rostelecom is going to pay is barely possible to justify. That said, much will depend on the further development of the merged company but for now I'd like to give it a pass.
Q3 Results
Before we move on to the deal, let's take a look at the recent results. Rostelecom's revenue increased by 5% compared to the third