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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.

End

09.12.2013 14:43
 
 
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