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the necessary documents will be released,” he said. In March, Rostelecom agreed on the terms to consolidation a 100% control in Tele2, and now the parties are discussing technical issues. Oseevsky assured that Tele2 will remain an independent company with the existing management, and the revenues of the combined company will be about RUB500bn. Rostelecom currently owns 45% of Tele2. The rest is owned by Tele2 Russia Holding AB, in which VTB holds 50%, Invintel BV Alexey Mordashov 40% and 10% belongs to the Bank of Russia of Yuri Kovalchuk and his partners.
Major Russian mobile operator Mobile TeleSystems (MTS) will run a rebranding campaign, comprising the change of a motto, a visual style, and a positioning concept, the company said late Monday. “MTS’ strategy stipulates concentration around new digital products. A visual style follows this concept through creation of an umbrella brand, including new product business lines beyond telecoms, which will be reflected in the brand’s writing,” Vice President for marketing Vyacheslav Nikolayev said. The company did not disclose its expenses on the rebranding, but said a new positing and a new visual style are designed with the help of two agencies, the U.K.’s ASVK Consulting and local BBDO Branding. The new visual style will be implemented in advertisements and digital products already in June. Stores will be rebranded as per the renovation schedule.
9.2.10 Utilities corporate news
Russian nuclear energy agency Rosatom is lobbying for its own National Project entitled “Nuclear science, equipment, and technology,” that potentially involves RUB800bn ($12.3bn) of investment into the nuclear power sector, Vedomosti and Tass daily reported on June 4 citing the participants of the discussions in the government and the head of Rosatom Alexei Lihachev. Currently 12 National Projects are approved with a total budget of RUB25.7 trillion through to 2024, out of which RUB13 trillion would be financed from the federal budget. Reportedly Rosatom is ready to finance 51% of the Nuclear national project from its own funds. As analysed by bne IntelliNews, the state- owned agency Rosatom is on a tear. The company operates 35 nuclear power stations in Russia that produce 28GW of power, and it is actively exporting its nuclear technology to countries around the world. Reportedly the idea to have a stand-alone national project for Rosatom was first downplayed by the Prime Minister Dmitry Medvedev, but now is back on agenda. Pushing the initiative through would mean scoring a major victory for the agency, analysts surveyed by Vedomosti daily believe.
Enel Russia plans to sell the Reftinskaya coal power plant for at least RUB21bn ($333mn), Reuters reported on June 21 citing the materials prepared by the company for the June 22 shareholder meeting. While the Ebitda of Enel could take an estimated RUB5bn-6.5bn dive as a result of the sale, the company would be able to reinvest the proceeds to other more sustainable energy sectors, cut the costs by RUB2.9bn annually, and substantially reduce its emissions. Enel Russia, along with RusHydro hydropower major, is one of the most visibly active utility majors in the renewable energy segment. So far the government support program for the sector enabled Enel Russia to launch projects with 291MW capacity, and will further boost wind generation capacity after having recently won a state tender.
Russian hydropower generation holding RusHydro is discussing a
110 RUSSIA Country Report July 2019 www.intellinews.com