MTS plans to redeem "NVision Group" for 20 billion rubles
The MTS company plans to redeem an unprofitable IT contractor, NVision Group, for 20 billion rubles, sources close to the course of negotiations say. Overpayment turns four times, writes Roem.ru. The deal is likely to be made, despite the dissatisfaction of minority shareholders.
The head of the Prosperity Capital Management fund, a shareholder of MTS and Envision Group, calls the deal unfair and intra-group. “The deal should be submitted for approval to minority investors of the two companies. This is an unprofitable asset, there is a direct transfer of the value of MTS in favor of Sistema. In general, the purchase of assets from the parent structure is a vicious practice, ”says Alexander Vasin, director of the Prosperity Capital Management fund.
The sellers of shares are such structures as AFK Sistema - JSC RTI and LLC Sistema Telecom Alliance. It should be noted that from 2012 to 2014, the AFC gradually consolidated the entire 100% of Envision Group, using a subsidiary for the acquisition of shares. As a result, the total cost of the contractor fell from $ 213 million to $ 88 million.
In addition, over the same period of time, MTS bought telecommunications equipment, billing systems and software along with consulting services from the company for a total of 39.1 billion rubles.
The head of the Prosperity Capital Management fund, a shareholder of MTS and Envision Group, calls the deal unfair and intra-group. “The deal should be submitted for approval to minority investors of the two companies. This is an unprofitable asset, there is a direct transfer of the value of MTS in favor of Sistema. In general, the purchase of assets from the parent structure is a vicious practice, ”says Alexander Vasin, director of the Prosperity Capital Management fund.
The sellers of shares are such structures as AFK Sistema - JSC RTI and LLC Sistema Telecom Alliance. It should be noted that from 2012 to 2014, the AFC gradually consolidated the entire 100% of Envision Group, using a subsidiary for the acquisition of shares. As a result, the total cost of the contractor fell from $ 213 million to $ 88 million.
In addition, over the same period of time, MTS bought telecommunications equipment, billing systems and software along with consulting services from the company for a total of 39.1 billion rubles.
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Source: https://habr.com/ru/post/292706/
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