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Report: Russia's Tricolor TV, NTV-Plus in merger talks

Russia's National Satellite Co. is in discussions to merge its satellite operator unit Tricolor TV with rival provider NTV-Plus in a deal worth about 65 billion Russian rubles, Telecompaper reported, citing sources mentioned by Fontanka.ru.

NSC reportedly seeks to complete the deal to acquire NTV-Plus by year-end or early 2020, after which Tricolor TV would sell a portion of its shares to JSC Gazprom-Media Holding. NSC's owners proposed that Gazprom-Media acquire a 49% stake in Tricolor TV for up to 36 billion rubles, or a 100% stake for 65 billion rubles.

PAO Sberbank of Russia is also reportedly eyeing NSC, with the bank valuing Tricolor TV at about 60 billion rubles, according to the report.