CEO says Rostelecom may offer quasi-treasury shares

MOSCOW, Mar 6 (PRIME) -- Russian state-controlled telecom operator Rostelecom does not rule out a secondary public offering (SPO) of quasi-treasury shares that are kept on the balance of its unit, Mobitel, the operator’s President Mikhail Oseyevsky told reporters on Tuesday.

“We assume that it is a strategic reserve for signing big deals. If we see none in the mid-term, perhaps, we could think of making a placement,” Oseyevsky said.

Senior Vice-President and Chief Financial Officer Kai-Uwe Mehlhorn said the company could consider this scenario if the market situation improves.

Mobitel holds 10.49% of common shares of the parent company and 30.79% of preferred shares.

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