About love again: Russian direct investment fund and Arab investors want to invest in Rostelecom
The Russian Direct Investment Fund ( RDIF ) has expressed its intention to take part in the fate of Rostelecom . At the same time, Arab investors became interested in the Russian company. Rostelecom can sell them securities from a quasi-treasury stake worth over 41 billion rubles.
We are talking about the papers of a subsidiary of Rostelecom - Mobitel. She owns 15.06% of ordinary shares and 30.79% of preferred shares.
Arab investors have already dealt with the Russian state-owned company. In 2015, the state investment company Mubadala Development Company from Abu Dhabi provided Rostelecom with the RDIF and National Wealth Fund loans to Rostelecom for the project to eliminate digital inequality.
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The Kuwait Investment Authority also allowed for participation in Rostelecom, but so far no decision has been made.
The president of Rostelecom, Sergei Kalugin, hinted to Kommersant that the state-owned company is not eager to accept new owners in its family, but such a deal can be arranged.
The capitalization of 100% of Rostelecom is 258.6 billion rubles. Another source said that the RDIF with the Arab partner could have bought the entire treasury package. “It would be beneficial for the management to expand the list of shareholders with new names, and investors, in turn, can be attracted by the new dividend policy of Rostelecom,” he argues. According to a source close to the state-owned company, the proceeds from the sale of Rostelecom shares could be used to reduce the debt, which at the end of 2015 amounted to 186.6 billion rubles.
At the end of February 2016, the state - owned company signed an agreement with Vnesheconombank ( VEB ) to open a credit line for a maximum amount of 5.1 billion rubles.
Rostelecom plans to use the proceeds to refinance expenses, purchase new equipment and upgrade existing equipment.
We are talking about the papers of a subsidiary of Rostelecom - Mobitel. She owns 15.06% of ordinary shares and 30.79% of preferred shares.
Arab investors have already dealt with the Russian state-owned company. In 2015, the state investment company Mubadala Development Company from Abu Dhabi provided Rostelecom with the RDIF and National Wealth Fund loans to Rostelecom for the project to eliminate digital inequality.
')
The Kuwait Investment Authority also allowed for participation in Rostelecom, but so far no decision has been made.
The president of Rostelecom, Sergei Kalugin, hinted to Kommersant that the state-owned company is not eager to accept new owners in its family, but such a deal can be arranged.
The capitalization of 100% of Rostelecom is 258.6 billion rubles. Another source said that the RDIF with the Arab partner could have bought the entire treasury package. “It would be beneficial for the management to expand the list of shareholders with new names, and investors, in turn, can be attracted by the new dividend policy of Rostelecom,” he argues. According to a source close to the state-owned company, the proceeds from the sale of Rostelecom shares could be used to reduce the debt, which at the end of 2015 amounted to 186.6 billion rubles.
According to Kommersant, previously, RDIF was a shareholder of Rostelecom. In October 2013, the fund, together with Deutsche Bank, bought a 2.7% stake for $ 236 million. At the beginning of 2014, RDIF sold part of its stake to Rostelecom during the mandatory buy-out with a yield of 33%. In October 2015, the fund sold the remaining 1.2% of shares with a yield of 1.5% in dollars to Rostelecom. Managed by RDIF - $ 10 billion
At the end of February 2016, the state - owned company signed an agreement with Vnesheconombank ( VEB ) to open a credit line for a maximum amount of 5.1 billion rubles.
The management company of the RDIF is a 100% subsidiary of Vnesheconombank.
Rostelecom plans to use the proceeds to refinance expenses, purchase new equipment and upgrade existing equipment.
Source: https://habr.com/ru/post/300692/
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