Rostec completes sale of YotaDevices stake to Chinese consortium: Reuters

Russian state conglomerate Rostec said on Tuesday it had completed the sale of a 25.1 percent stake in Russian smartphone manufacturer YotaDevices to a consortium of companies led by Chinese investment group Trinity World Management.

Rostec said it would receive cash and liquid securities worth more than 3 billion rubles ($47.6 million) as part of the deal, which would give Trinity World Management and China Baoli a 50 percent controlling stake in YotaDevices.