Govt expects to offload Rostelecom stake by 2014

29 May 2013

The Russian government has indicated that it intends to sell its controlling stake in national operator Rostelecom by the end of 2014. The updated timeline was included in the Ministry of Economic Development’s latest strategic report, which covers the period until 2018.

According to the company’s website, state-owned telecoms holding company Svyazinvest currently holds 41.84% of the share capital in Rostelecom, with the remaining stakes held by the Russian Federation (via FASPM, 6.86%), Vnesheconombank (2.26%) and holding company Mobitel (5.24%), with the remaining 43.80% in free float.

Yesterday Svyazinvest agreed to acquire 0.43% of Mobitel’s stake, paying RUB136.05 (USD4.33) per share; this transaction is not yet reflected in the data mentioned above.

Russia, Rostelecom