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Articles & publicationsVladimir Putin will have the final say in disputes over the various scenarios for the reorganization of Svyazinvest. In order to complete the main state restructuring of the telecom industry, the state-owned holding could buy back its own 25% plus one share stake in Svyazinvest from its subsidiary Rostelecom using a loan from VEB, while the state corporation would be able to exercise a put option to buy back 2.4% of the operator, which VEB received in 2010. Svyazinvest would settle up with the creditor via dividends paid out by Rostelecom
28.11.2011
The investigative department of the Ministry of Internal Affairs disagrees with the results of the Prosecutor General’s Office that Rostelecom embezzled RUR 300 mln of the more than RUR 2 bln which was allocated to it by the state in order to roll out the electronic government
Rostelecom off the hook: Ministry of Internal Affairs scrutinizes Electronic Russia financing Rostelecom could commence building fourth-generation (4G) telecommunications networks in the 2.3-2.4 GHz range in 30 regions of Russia nearly two years after having won the respective tenders
24.11.2011
Suleiman Kerimov’s Nafta Moscow could raise its stake in Rostelecom in order to install its appointee on the holding’s board of directors
Kerimov’s Nafta could boost its stake in Rostelecom and install appointee on board of directors Vedomosti managed to obtain a copy of a letter addressed by Rostelecom CEO Alexander Provotorov to board chairmen of VTB Andrey Kostin and Gazprombank Andrey Akimov. The latter proposes buying out from Gazprombank and VTB 16.6% and 11.6%, respectively in NTC based on an appraisal of Rub 281.0 per share The privatization of Rostelecom will not happen any time soon, since the merged company, on the basis of which RTOs were merged first needs to “get back on its feet”, head of the Economic Development Ministry Elvira Nabiullina believes Rostelecom intends in 2012 to speed up the pace of growth of its subscriber base in the broadband Internet access (BIA) and to raise its market share of new connections to 50% The appraisal of Sky Link, which Rostelecom is preparing to buy out from Svyazinvest, hovers in the range of RUR 7-11 bln. But Svyazinvest will not likely let the operator go for less than RUR 9.4 bln Svyazinvest has put forward an alternative to its merger with Rostelecom – remaining a standalone entity and raising its stake in Rostelecom from 43.4% to a majority holding. The state holding has forwarded a proposal to the State Property Management Agency, the Telecommunications Ministry and Rostelecom concerning the further reorganization of state-owned telecommunications operators, Vedomosti was told by a source close to the holding Russian businessman Suleiman Kerimov has become a co-owner of Rostelecom by buying out the 6% equity stake held by former Svyazinvest general director Evgeny Yurchenko |