Moscow Times
Rostelecom has launched a 30 billion ruble ($909 million) buyback offer for about 30 percent of the shares held by minority investors, news stories said Friday, citing sources close to the firm.
Reports of the buyout, on which the state-controlled firm declined to comment, boosted its Moscow-listed stock by more than 4 percent in early trade, outperforming a flat broader market. The stock hit its lowest since 2006 in June.
Several Russian firms have launched share buybacks in recent months that have been criticized for favoring strategic shareholders, making it possible for them to exit investments at attractive prices amid broader market declines.