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Articles & publicationsThe respective draft governmental resolutions have been approved with all the relevant ministries and agencies. As a result, Svyazinvest can expect to receive stakes in Central Telegraph (29%), MMTS-9 (50.67%), Bashinformsvyaz (28.24%) and Chukotkasvyazinform (75%), which are held under state ownership.
17.08.2010
The reorganization of Svyazinvest will require at least RUR 6.8 bln from its subsidiaries (not including Dagsvyazinform) – this is the amount of total expenses required to buy back shares from their minority shareholders which are opposed to the reorganization or failed to vote on this issue.
Modest minorities
11.08.2010
Two regional telecommunications operators of Svyazinvest holding – Southern Telecommunications Company and North-West Telecom – are expected to allocate RUR 386 mln and RUR 1.1 bln, respectively, to buy back shares from minority shareholders which do not agree with the reorganization of the holding.
NWT and UTK estimate dissenting shareholders
05.08.2010
North-West Telecom, a fixed-line monopoly holder in the North-West Federal District of Russia, gas received permission from the Federal Anti-Monopoly Service (FAS) to acquire 100% of the shares of Severen Telecom. As a result of this takeover, NWT could dramatically strengthen its positions on the corporate telecommunications market in Saint Petersburg.
NWT gets down to business
04.08.2010
The shareholders of AFK Sistema approved at an extraordinary general meeting the stipulation of a securityship agreement with Svyazinvest.
Sistema approves swap
04.08.2010
Deposit Insurance Agency (DIA) is considering the possibility of transferring its 29.9% stake in Rostelecom to the State Property Management Agency. DIA has long said it intends to sell this stake for the purchase price, which is twice as much as their market value. However, since neither Svyazinvest nor Rostelecom intend to buy back the stake, the state corporation intends to exercise its last possible option.
Lost block of shares: DIA to turn its stake over in Rostelecom to State Property Management Agency
04.08.2010
Gazprobank Asset Management has raised its stake in Southern Telecommunications Company (UTK) from 1.5% to 7.41%, the company said. The amount of the transaction may have been about RUR 990 mln. Shares were purchased for subsequent distribution as part of an options program.
Gazprombank raises stake in UTK to 7.4% The government of the Russian Federation has signed directives for those representing the interests of the Russian Federation, which are members of the Board of Directors of Svyazinvest to vote for Igor Schegolev, telecommunications minister of Russia, to be elected as Chairman of the Board of Directors of Svyazinvest, according to a statement posted on the official website of the government of Russia. The value of the merged Rostelecom could reach some RUR 355 bln, according to an announcement made by Svyazinvest’s general director Evgeny Yurchenko. “An important stage in the reorganization of the Svyazinvest Group of companies – that of receiving corporate approvals – is a done deal, Mr. Yurchenko said. VEB has agreed to the terms for buying back a stake in Rostelecom as proposed by state holding Svyazinvest. Over the next 3-4 years, 10% of the operator will be bought back by the bank itself at a price not less than RUR 230 per share. |