MegaFon may go public next year

31 Jan 2008

Russia’s third-largest cellular operator, MegaFon, could hold an initial public offering (IPO) in 2009 according to reports from RIA Novosti. The company’s CEO, Sergei Soldatenkov, was quoted as saying: ‘We want to hold an IPO. This is unlikely to happen this year, as shareholders have not yet discussed the prospect, but it will be possible in 2009.’ MegaFon is currently owned by TeliaSonera (35.6%), Telecominvest (31.3%), CT-Mobile (25.1%) and IPOC International Growth Fund (8%). A long-running shareholder dispute was settled last November when IPOC agreed to drop a legal claim to Altimo’s ownership of CT-Mobile. Altimo acquired the 25.1% interest in MegaFon in 2003 but IPOC maintained that it should have had the right of first refusal on the stake.

Russia, MegaFon