Mobitel unit poised to acquire half of tycoon’s Rostelecom stake

20 Jan 2012

According to Kommersant, Rostelecom’s Mobitel unit is poised to buy more than half of Russian billionaire Suleiman Kerimov’s 5.8% stake in Rostelecom. TeleGeography notes that Mobitel currently holds 3.44% of the charter capital (2.69% of common shares) of its parent company; the shares in question were acquired from a number of dissenting shareholders who failed to support the reorganisation of Rostelecom last year.

Mobitel, which is wholly-owned by Rostelecom, will take a 3.1% stake in the Russian national operator from Kerimov, who is expected to sell his remaining 2.7% stake as part of the company’s impending share offering on the London Stock Exchange (LSE), expected to take place later in 2012. Kerimov, who acquired the shares from Yevgeny Yurchenko – one of Rostelecom’s most prominent minority shareholders – in November 2011, stands to gain as much as RUB1.5 billion (USD47.7 million) on the transaction, the business daily reports.

Russia, Rostelecom