Arkady Rotenberg acquires a stake in Rostelecom from Konstantin Malofeev, sending the company’s shares up on the Moscow Stock Exchange, but the price has not been disclosed.

      Russian businessman Arkady Rotenberg has confirmed his Bellared Holdings Ltd purchased a 10.7 percent of shares in Russia’s Rostelecom, a growing fixed-line operator with a nationwide reach, from Malofeev’s Marshall Capital.

      According to media reports, the price tag of the stake could include a premium of up to 22 percent to the market value worth $38.6 billion.

      Rotenberg was not widely mentioned as a bidder, with the media tipping Mikhail Prokhorov’s Onexim as a buyer.