17 May 2004 11:31
MINISTRY PROPOSES SVYAZINVEST STAKE SALE
MOSCOW. May 17 (Interfax) - The Russian Economic Development and Trade Ministry has included a 25% state stake in
Russian telecoms holding company Svyazinvest in a draft addendum to the government's privatization program for
2004, to be submitted to the government on May 20, the newspaper Vedomosti quotes a source in the ministry as
saying.
The document does not set down the parameters of the privatization, and only states that the schedule for the sale
and the size of the stake will be determined by market conditions.
First Deputy Economic Development and Trade Minister Andrei Sharonov said that the government is currently evaluating
the structural consequences of the deal, particularly how it will affect the development of competition in the
sector.
Svyazinvest owns controlling stakes in seven inter-regional communications companies and in the national
long-distance operator Rostelecom. The state owns 75% minus one share in Svyazinvest, and the consortium Mustcom
acquired 25% plus one share for $1.875 billion in 1997.
Possible participants in the privatization may include the main players on the telecoms market, including Sistema,
Telecominvest, and Alfa Group, experts said.
[Interfax] |
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