Telcrest acquires the blocking stake of STS Media

Affiliated with The National Media Group (NMG), the company Telcrest acquires the blocking stake of STS Media.

Affiliated with The National Media Group (NMG), the company Telcrest acquires the blocking stake (39 million 548 thousand 896 shares) of STS Media for $ 1.1 billion, or $ 27.1 per share, from" Alpha group ", reported in CTC Media press release.

The deal became possible after the refusal of another shareholder of STS Media - Swedish Modern Times Group (owns 38% of shares of STS Media) - from the pre-emptive right to redeem shares of Alfa-Group" in the STS.
Telcrest Investments Company’s owners are The National Media Group (controlled by the bank Russia), Surgutneftegaz, OOO Mediaset (affiliated with NMG), Itera Media Limited and Abit Holdings Limited.