St. Petersburg-based alternative fixed-line operator Metrocom has been put up for auction at a starting price of Rbs2bn (E52.5m), according to Dow Jones quoting local daily Vedomosti.
The local government holds 55% of Metrocom, while MST, a private…
St. Petersburg-based alternative fixed-line operator Metrocom has been put up for auction at a starting price of Rbs2bn (E52.5m), according to Dow Jones quoting local daily Vedomosti.
The local government holds 55% of Metrocom, while MST, a private company owned by Sergei Matviyenko, the son of St. Petersburg governor Valentina Matviyenko, holds the rest.
Metrocom provides services mainly to government and municipalities.
Vice governor Mikhail Oseyevsky, who is also chairman of Metrocom’s board, was quoted saying that the sale was part of the city administration’s privatisation programme. The proceeds will be used to reduce the city’s budget deficit.
MST bought its 45% stake from Comstar-UTS in 2007.