State to sell Svyazinvest subsidiaries separately, sources say

21 Apr 2005

The Russian government is planning to sell off its minority stakes in four regional telcos separately from the planned sale of their parent Svyazinvest, according to the Moscow News. The paper says that the long-awaited draft presidential decree outlining the privatisation of Svyazinvest proposes the sell-off of stakes in Center Telecom, Uralsvyazinform, Volga Telecom and North-West Telecom separate from the tender of the government’s 75%-minus one share in the parent group. The state attempted to sell its holdings in the four operators in 2004 but cancelled the auction due to a lack of interest; it hopes to raise around USD300 million from the sale. The decree is currently making its way through parliament.

Russia, Svyazinvest