Russian telecoms holding company Svyazinvest is not one of the state-owned assets that the government plans to sell by 2015, reported local publication ITAR-TASS.
Citing Igor Shuvalov, Russia’s First Deputy Prime Minister, the report also suggests that…
Russian telecoms holding company Svyazinvest is not one of the state-owned assets that the government plans to sell by 2015, reported local publication ITAR-TASS.
Citing Igor Shuvalov, Russia’s First Deputy Prime Minister, the report also suggests that Svyazinvest could be listed on the stock market from 2012, following the mass reorganization of its assets that is due to be completed by the spring of 2011.
The holding company is currently undergoing a widespread ‘mega-regional merger’ of its numerous telecommunications assets, which include Russia’s national operator Rostelecom. According to the report, Svyazinvest needs to present auditable accounting documents for the previous year before it can list, meaning the government would be unable to consider such a possibility before 2012.
However, Shuvalov also cautioned that factors including the company’s possible need for extra funds and the state of the country’s federal budget could impact any IPO plans.
KPMG is advising Svyazinvest on its options, the report adds.
Svyazinvest was unable to comment before the press deadline.
