The Russian government intends to sell its entire stake in Rostelecom by the end of 2014, according to the Ministry of Economic Development.
The ministry included the sale in a list of planned privatisations for the years through to 2018 in a…
The Russian government intends to sell its entire stake in Rostelecom by the end of 2014, according to the Ministry of Economic Development.
The ministry included the sale in a list of planned privatisations for the years through to 2018 in a recently-published strategy report.
The government holds a 55.17% stake in Rostelecom via telecoms holding Svyazinvest, with which the telco is being merged, the Federal State Property Management Agency (FSPMA) and Vnesheconombank (VEB).
There has been continued speculation over if and when the privatisation might take place.
In late 2012, communications and mass media minister Nikolai Nikiforov said the telco could be privatised in 2015 after its merger with Svyazinvest has been finalised. The minister of economic development Andrei Belousov was subsequently quoted by local media as saying the ministry was calling for the privatisation to take place in 2013.
Last month, FSPMA director Olga Dergunova was cited by Russia’s Prime Business News Agency as saying the government might sell its entire stake in Rostelecom, although preparations for this had not begun.
A 2012 presidential decree directing the Rostelecom-Svyazinvest merger said the government and VEB would retain a controlling stake of at least 50% in the new, merged company, which will operate under the name Rostelecom.
