Technology

VTB Capital acquires minority stake in Russia's Tricolor TV

MUMBAI: VTB Capital acquired a minority stake in National Satellite Company, the largest Russian satellite TV operator operating under "Tricolor TV" brand.

With its subscriber base over 12.4 million (registered subscribers) including paying subscribers of 9.12 million as of 25 March, Tricolor TV is the leader of Russia‘s pay TV market and one of the largest pay TV providers in Europe.

VTB Capital as a global investment bank and a financial investor will help Tricolor TV to increase value of its assets and get prepared for an IPO in few years.

VTB Capital Global Head of Private Equity and Special Situations Tim Demchenko noted, "Investment in Tricolor TV is further step in implementing VTB Capital‘s private equity strategy to invest in consumer-related industries in Russia. We believe its strong market position and countrywide footprint will enable the company to capitalize on opportunities in rapidly growing Russian pay-TV market and successfully complete IPO in the next few years."

National Satellite Company CEO Alexander Makarov said, "Partnership with VTB Group is a strategic step which will allow the Company to get prepared for the next level of Company‘s development."

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