MegaFon: Antitrust clears MICL to buy up to 20.8% of operator stock - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

MegaFon: Antitrust clears MICL to buy up to 20.8% of operator stock

MOSCOW, Aug 15 (PRIME) -- RussiaТs Federal Antimonopoly Service has cleared MegaFon Investments (Cyprus) Ltd. (MICL), the wholly-owned subsidiary of mobile operator MegaFon, to buy up to 20.8% of the parent company, MegaFon said late Tuesday in a statement.

The package including the already owned stake by MICL and its units, comprising both common shares and global depositary receipts (GDRs), will reach up to 81.0378% of voting shares of MegaFon.

MegaFon announced on July 16 a buyback program, carried out through MICL, in order to delist its GDRs from the London Stock Exchange. The operator intends to purchase up to 128.95 million shares, or 20.8% of all issued and traded stock, for U.S. $9.75 apiece. The program is valid through August 22.

The offer is made to all shareholders excluding major ones: USM Group with 56.32% of MegaFon; Gazprombank Group with 18.79%; and MICL with 3.92%. Free float is currently at 20.97%.

Common shares of MegaFon closed at 623.5 rubles in Moscow and at $9.59 in London on Tuesday.

(66.7535 rubles Ц U.S. $1)

End

15.08.2018 09:57
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 71.9232 -0.3208 20 apr
USD 63.9602 -0.1086 20 apr
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1260.82 -0.12 18:50 19 apr
micex 2563.90 +0.12 18:50 19 apr
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 162.57 +0.48 18:49 19 apr
lkoh 5602.00 -0.14 18:48 19 apr
rosn 432.00 -0.84 18:49 19 apr
sber 232.60 -0.08 18:49 19 apr
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 71.9125 -0.2875 14:59 19 apr
USDTD 64.0125 +0.0400 17:44 19 apr