Rostec intends to close the sale of a stake in Yota Devices within a month

MOSCOW, may 8. /TASS/. The state Corporation “rostec” plans to complete the sale of its stake in Yota Devices, the developer of YotaPhone, reported TASS the representative of the Corporation.

“We expect to complete the transaction at Yota Devices during the month,” he said.

The state Corporation “rostec” now owns 25.1% of the shares of the company.

Earlier it was reported that the proportion of the Corporation may purchase Chinese partners for 3 billion rubles.

The first YotaPhone came on the market in 2013. In 2016 the shareholders of Yota Devices entered the Chinese group China Baoli Technologies Holdings Limited, which bought a 30% stake in the company and subsequently increased its stake to 40%. 34.9% in Yota Devices belong to Fund Telconet Sergei Adonyev and albert Avdalyan (assets of the Fund is managed Marsfield).