CORRECT: Rostelecom’s board to give ex-head Kalugin bonus to buy 0.03% stake

(Corrects volume of stake to 0.03%, not 3.26% in headline, throughout story)

MOSCOW, Mar 6 (PRIME) -- The board of directors of Russian state-controlled telecom operator Rostelecom has decided to pay a bonus to the company’s former head Sergei Kalugin to the amount need to buy 838,195 common shares of the operator, or 0.03% of all common stock, the company said on Monday in a statement.

Kalugin owned 0.4532% in Rostelecom’s capital as of the end of 2016, and his common stake amounted to 0.2259%. The ex-president had earlier bought Rostelecom’s shares at least three times.

Rostelecom’s common shares traded at 79.23 rubles on the Moscow Exchange at 12:30 p.m. Moscow time, which valued the 0.03% stake at 66.4 million rubles.

The board appointed on March 3 Mikhail Oseyevsky, a deputy chairman at VTB Bank, as the company’s president starting from March 4 for five years.

Kalugin will likely join the Communications and Mass Media Ministry as a deputy minister, according to Minister Nikolai Nikiforov and Deputy Prime Minister Arkady Dvorkovich.

(58.9099 rubles – U.S. $1)

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