Russian ministry seeking organizers for Rostelecom privatization - Telecommunications - 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

Russian ministry seeking organizers for Rostelecom privatization

rostelecom04MOSCOW, Dec 9 (PRIME) -- Russias Economic Development Ministry has started the selection process for organizers of the governments stake sale in major telecom operator Rostelecom, the ministry said in a statement Monday.

In late September, Rostelecom completed the final stage of its reorganization, under which state-run telecom holding Svyazinvest and 20 other firms were integrated into Rostelecom. The governments combined common stake in the merged company amounted to 51.12% after the reorganization.

Rostelecom was earlier included in the 20142016 privatization plan, and the Federal State Property Management Service planned to start preparing Rostelecom for the privatization right after the merger with Svyazinvest is completed.

Now, Rostelecom is deliberating spinning off its mobile assets into a mobile joint venture, which could be set up with regional mobile operator Tele2 Russia.

In September, the property agencys head Olga Dergunova said that the governments stake in Rostelecom could be fully sold in 2014 for at least U.S. $5 billion.

However, the operators management believes that privatization will be feasible only in 20152016, after the companys market value increases.


09.12.2013 14:43
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 78.5489 +0.2878 30 may
USD 70.7520 -0.3492 30 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1219.76 -1.77 18:50 29 may
micex 2734.83 -1.62 18:50 29 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 199.95 +1.57 18:49 29 may
lkoh 5242.50 -2.77 18:49 29 may
rosn 376.20 -0.33 18:49 29 may
sber 200.50 -2.20 18:49 29 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.8900 -0.4000 14:59 29 may
USDTD 70.6900 -0.5925 17:44 29 may