MOSCOW, Jul 2 (PRIME) – The London Stock Exchange (LSE) may become an alternative to the listing on the New York Stock Exchange (NYSE) for major Russian mobile operator MTS, business daily Vedomosti reported late on Monday, quoting a research of investment company Renaissance Capital.
MTS has not decided to delist its American depositary receipts (ADRs) from the NYSE and is considering different options, including listing on the LSE, the research read.
Renaissance Capital analyst Alexander Vengranovich told the daily the LSE idea had come from the operator’s investors as a transition, and it is now discussed as possible.
An MTS spokesperson said the operator continues dialogue with investors and external consultants and hopes to unveil its vision by early September. MTS still sees strategic advantages in raising the volume of trading on the Moscow Exchange.
Andrei Dubovskov, a former head of MTS and current president of the operator’s key holder, Sistema, said in May that the NYSE listing gives no additional preferences from the point of view of capitalization in the current economic and geopolitical conditions.
Sistema indirectly owns 55.64% of MTS, less than 37% of the operator’s capital is traded in ADRs and some 8% in ordinary shares on the Moscow Exchange.
End
|
|
