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A man makes a call outside a branch of Swedish telecom group Tele2 in St. Petersburg.
A man makes a call outside a branch of Swedish telecom group Tele2 in St. Petersburg.
(ALEXANDER DEMIANCHUK/REUTERS)

BREAKINGVIEWS

Seeing writing on the wall, Swedish telco exits Russia

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Tele2 is making a decent Russian exit, all things considered. The Swedish telecom is selling its unit there for $3.55-billion (U.S.) to state-backed VTB. Attempts to gatecrash the Kremlin-blessed deal look forlorn. And life may get harder for Tele2’s bigger rivals.