Svyazinvest, Sistema, Comstar Sign MoU On Share Swap - Report

Date : 11/20/2009 @ 11:28AM
Source : Dow Jones News
Stock : Ojsc Rostelecom Ads (ROS)
Quote : 27.35  0.0 (0.00%) @ 2:05AM
Ojsc Rostelecom share price Chart

Svyazinvest, Sistema, Comstar Sign MoU On Share Swap - Report

Ojsc Rostelecom (NYSE:ROS)
Historical Stock Chart

5 Years : From Mar 2013 to Mar 2018

Click Here for more Ojsc Rostelecom Charts.

The state holding that controls Russia's fixed-line telecoms network, OAO Svyazinvest, has signed a long-awaited asset swap agreement with OAO Comstar United TeleSystems (CMST.RS) and parent company AFK Sistema (AFKS.RS), Interfax news agency reported Friday.

The agency cited people familiar with the situation, one of whom said that the memorandum of understanding signed between the companies stipulates that the deal should be completed by Feb. 15.

Comstar owns a 25% stake in Svyazinvest and Svyazinvst owns 28% of the ordinary shares in Comstar's largest business OAO MGTS, which runs the fixed-line network in Moscow.

As part of the deal, Svyazinvest and Comstar will swap these stakes. In addition, Russia's state development bank VEB will assume Comstar's 26 billion ruble ($901 million) debt to OAO Sberbank (SBER.RS), and Comstar will also give Svyazinvest 100% of Sky Link, a small mobile operator.

Sistema currently only owns half of Sky Link, but Interfax reports that the company will buy the other half ahead of the deal with Svyazinvest.

Auditors Ernst & Young were commissioned to value these assets and Interfax reports that the prices will be determined by the end of the year.

Agency Web site:

-By Moscow Bureau, Dow Jones Newswires; +7 495 937 8445


Latest ROS Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:43 V:us D:20180317 06:28:26