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Articles & publications
18.06.2010
Svyazinvest expects to gain state’s stake in Central Telegraph after JuneInterfax
Svyazinvest expects that the process related to the assignment of the state stakes in Central Telegraph (RTS: CNTL), Bashinformsvyaz (RTS: BISV), MMTS-9 and Chukotasvyazinform will get underway after resolutions have been passed concerning the merger of the holding in June 2010.
This process has picked up momentum after the decision was adopted to set up a merged operator. All work related to the decision-making process is expected to be completed in June”, the general director of Svyazinvest Evgeny Yurchenko told journalists on the sidelines of the International Economic Forum in Saint Petersburg.
According to Mr. Yurchenko, the state’s equity stakes in four telecommunications companies will be assigned in exchange for an additional share issue conducted by Svyazinvest. Meanwhile, the tenders announced by the State Federal Property Management Agency to auction off the state’s stake in Central Telegraph is to be called off. “These tenders will likely not be held”, Yurchenko pointed out.
He went on to say that Svyazinvest is interested in gaining control over Bashinformsvyaz and could commence negotiations aimed at buying back the majority equity holding after having received the state’s stake.
The head of Svyazinvest also pointed out that the proposal to assign these assets to Svyazinvest, spearheaded by head of the Telecommunications Ministry Igor Schegolev, was approved by the Prime Minister of the Russian Federation.
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