MegaFon prices minority shareholder squeeze-out, set for June

23 Apr 2019

Russian cellco MegaFon has notified its remaining minority shareholders – holding a combined 0.8% stake on the Moscow Exchange – that it will buy them out for RUB659.26 (USD10.32) per share via its subsidiary MegaFon Finance between 3 June and 28 June 2019. MegaFon notes that it is entitled to proceed with the shareholder squeeze-out under Federal law.

TeleGeography says that USM Group (a non-public entity ultimately controlled by Russian business magnate Alisher Usmanov) currently owns 70.32% of MegaFon via two associated companies, AF Telecom Holding (56.32%) and the latter’s sole owner USM Telecom (14.00%). 28.88% is attributed to MegaFon Finance (wholly owned by MegaFon itself), with the remaining 0.8% in free float.

Russia, MegaFon