36. Subsequent events
On 6 February 2014 Rostelecom signed a framework agreement with mobile operator Tele2 Russia to that will lead to the integrateion of their mobile assets (“framework agreement”) (refer to Note 1). The framework agreement, which was previously approved by Rostelecom’s Board of Directors, outlines the terms and conditions ofsurrounding the contribution of Rostelecom’s mobile subsidiaries and its integrated mobile assets into the share capital of T2 Rus Holding.
In accordance with the framework agreement, the first stage of the deal is expected to be closed in spring 2014. In addition, the two parties will enter into mobile virtual network operator agreements, licensing agreements regarding the two companies’ brands, as well as a range of agreements for the transitional period. According to these agreements, the Group will provide services for the T2 Rus Holding during a certain period of time after the first stage has been completed. The first stage will also involve signing a participation agreement on various defining matters which including the T2 Rus Holding’s corporate governance system.
The second phase of the transaction will be completed within one year.