Russian state-controlled telecommunications operator Rostelecom has reportedly postponed its technical listing on the London Stock Exchange until early 2012.
Reuters said that the technical listing had been delayed because the UK financial market…
Russian state-controlled telecommunications operator Rostelecom has reportedly postponed its technical listing on the London Stock Exchange until early 2012.
Reuters said that the technical listing had been delayed because the UK financial market regulator needs longer than usual to assess the Rostelecom prospectus. The article referred to an unnamed company source for the information.
Rostelecom declined to comment, the article added.
Reports about Rostelecom seeking a possible secondary listing on a foreign stock exchange began to circulate earlier this year.
Newswire reports back in April quoted chief executive Alexander Provotorov as saying that up to 25 per cent of shares in the company would be listed on the LSE in late 2011.
According to Reuters, Rostelecom had planned to hold the technical listing this month.
