TransTeleCom (TTK), which operates one of the largest fibre networks in Russia, which is more than 78,000 km long, wants to sell its residential (B2C) operations by the end of October.
Russia’s fifth-largest broadband network operator by subscribers has hired the investment bank VTB Capital to carry out an auction, with an initial price set at RUB 8.9 billion (USD120 million), according to the sale notice.
According to a report by ComNews, VTB Capital is accepting applications between 12 July and 11 October requiring a deposit of RUB890 million, ahead of an auction scheduled for 25 October.
The sale will allow TTK to concentrate on its wholesale/corporate/government client operations, based on its 78,000km-plus nationwide and international fibre backbone infrastructure.
TTK – wholly owned by state railway firm Russian Railways – has hired investment bank VTB Capital to organise the sale of its B2C division held via two subsidiaries, TTK-Svyaz and Zap-SibTranstelecom.
TTK registered TTK-Svyaz in August 2020 and by February 2021 had transferred retail assets to it throughout the Federation except for Western Siberia where the assets are retained by Zap-SibTranstelecom.