By Olga Razumovskaya
MOSCOW--Russia's No. 2 mobile operator MegaFon said Monday that
shareholders have nominated former U.K. Treasury Minister Lord Paul
Myners as a non-executive independent director, a move apparently
aimed at calming investor concerns over corporate governance ahead
of a delayed initial public offering in London later this
month.
The appointment will take effect after a formal nomination
process and shareholder approval, the company said in a
statement.
Megafon is owned by Russian billionaire Alisher Usmanov's AF
Telecom and Swedish telecommunications company TeliaSonera AB
(TLSN.SK).
"With the appointment of Lord Myners, MegaFon will have a
balanced Board structure with two independent non-executive
directors, two directors nominated by TeliaSonera and three
directors nominated by AF Telecom, which puts in place a strong
corporate governance structure," said Megafon Chief Executive Ivan
Tavrin.
Megafon said Nov. 15 that it hoped to raise around $2 billion
from listing in London and Moscow. It said the book will close Nov.
27.
-James Marson contributed to this story.
Write to Olga Razumovskaya at olga.razumovskaya@dowjones.com
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