Bids open for Svyazinvest

Article Abstract:

A 25% stake in the telecoms holding company, Svyazinvest, is being auctioned on July 25 1997, and foreign investors are permitted to enter bids. The 4.8 billion shares are expected to raise about US$700 million. Bidders need to put down a deposit of $400 million before 21 July, and this will be included in the offer price. Half the money must be paid within 15 days and the rest within 75 days. Oil companies are also being considered for privatisation and the privatisation ministry hopes to raise $2 billion in 1997.

Stocks & Other Equity Securities, Economic policy, Poland, Privatization, Privatization (Business)

---

Sale of Russia's Svyazinvest on ice

Article Abstract:

The sale of a further stake in Russia's telecommunications giant Svyazinvest has been put on ice, although the company remains on the list of companies to be privatized, the State Property Ministry said. Deputy State Property Minister German Gref announced in April that the sale of a block of 25% minus two shares was not going to take place this year. He said an expected low price for the shares was the main reason for the delay

Asset sales & divestitures, Russia, Mergers, acquisitions and divestments

---

Svyazinvest stake sold

Article Abstract:

Russia has sold its 25% stake in telecommunications company Svyazinvest for $1.8 billion to a Cyprus-based consortium. Svyazinvest dominates Russia's telecom industry and has stakes in nearly 90 regional companies, plus a share in long-distance operator Rostelkom. The Mustcom consortium comprises Germany's Deutsche Bank and Russian banks MFK and Renaissance Capital. The sale of a further 24% stake in Svyazinvest is to follow.

COMMUNICATION, Communications, Broadcasting and Telecommunications, Investments, Mustcom Ltd.

Similar abstracts:

• Abstracts: High price for oil company. Minority stake in Polish bank sold. Poland consolidates banking sector
• Abstracts: Governor quits in protest. Waiting in the wings
• Abstracts: Bill Clinton's golden moment. Overselling the surplus. Can happy days be here again?
• Abstracts: Bids in for Malaysia power restructuring. Pakistan sets out ambitious programme. Good prospects predicted for German private power
• Abstracts: Positive prospects for the Spanish market. Developing the underdeveloped. Spanish market dips as divestments disappear

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.