Kerimov seeks to offload 6% Rostelecom stake

18 Jan 2012

Russian tycoon Suleiman Kerimov is in the process of selling his recently acquired 6% stake in Russian national operator Rostelecom, the Moscow Times reports. Potential buyers are thought to include state-owned telecoms holding company Svyazinvest, which already holds 40.07% of the share capital in Rostelecom; with this in mind, the government approved a buyback programme for Rostelecom shares in October 2011. As previously reported by TeleGeography’s CommsUpdate, in November 2011 Kerimov acquired the shares from Yevgeny Yurchenko, one of the telecoms firm’s most prominent minority shareholders. The 6% stake was worth as much as USD900 million based on the share price at that time.

Russia, Rostelecom