03 September 2004 12:06
MTS holders to consider takeover of seven 100% subs at Nov. 9 meeting.
On November 9, the holders of OAO Mobile TeleSystems (MTS) will consider takeover of seven regional operators - OAO TELECOM XXI (St. Petersburg), ZAO Kuban-GSM, ZAO Tsifrovye Seti Udmurtii-900, ZAO Dontelecom, ZAO MTS-Nizhni Novgorod, ZAO Telecom-900.
Book close date is September 10, 2004.
All above companies are 100% subs of MTS.
The takeover will improve managerial and operating efficiency of MTS, Andrei Braginsky, MTS foreign ties director, told AK&M.
MTS will proceed with taking over 100% sub., A. Braginsky said.
As the meeting's agenda sets forth the company's reorganization, MTS BOD has determined 155 rbl/stock as the price to buy out the stocks from the holders voted against reorganization or not taking part in the voting.
MTS is Russia's cellular leader with over 25.5 mln subscribers. Stock capital equals 199.33 mln rbl, 1,993,326,138 common stocks, 0.1 rbl par each, were released. AFK Sistema holds 50.4%, Deutsche Telekom - 25.1%. Around 22.5% stocks are traded on New York Stock Exchange and European off-exchange markets. MTS management holds around 1% stocks.
[AKM] |
RUSSIA IN FACTS
