Rostelecom leaves the New York Stock Exchange

The Board of Directors of Rostelecom will discuss the issue of transferring the company's securities from the New York to the London Stock Exchange during the month. With the demonopolization of the Russian long-distance market, maintaining listing on the New York Stock Exchange is becoming too costly, especially since the main investors of Rostelecom in Russia.

Until now, only one Russian company, Tatneft, had experience of delisting on the NYSE. She placed the ADR on the New York Stock Exchange in 1996, and in 2006 carried out a delisting, retaining trades on the LSE (ADR owners could exchange their papers for GDR traded in London).

via Vedomosti