68% of Rostelecom may become state

Photo: Vedomosti

Rostelecom, Mobitel and Rosimushchestvo are now considering the issue of joint-stock property. Perhaps Rosimushchestvo will receive 68% of Rostelecom, by obtaining shares of a subsidiary of Rostelecom, Mobitel, write Vedomosti. The state believes that the shares currently under the management of Mobitel should not be used in non-cash transactions, but should be sold to those partners who can pay.

Back on Thursday, Rostelecom announced two important deals. The first is the redemption of securities of one of its investors - RDIF (1.2% of shares). The second is the redemption of treasury securities (3.53% of all ordinary shares and 13.7% of preferred). Thus, the share of the state together with the package, which belongs to VEB was 52.99% in ordinary shares, and the share of Mobitel rose to 15.06% of ordinary and 30.79% of preferred securities.

Interestingly, this summer, the papers of Mobitel played an important role in the approval of several transactions between Rostelecom and VTB - namely, loans worth 90 billion rubles.
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Negotiations on the transfer of this package under the control of the Federal Property Management Agency began last winter. Then negotiations intensified due to the fact that Rostelecom had to make a decision on how to deal with its treasury securities - 6.14% of ordinary shares and 13.7% of preferred shares were required to either sell or repay. As a result, part of Rostelecom's shares was bought out, and part of it was redeemed.