Moscow Times
Rostelecom’s plan to merger with the state telecom group Svyazinvest and 20 other subsidiaries received a stamp of approval at the extraordinary shareholders meeting, with 97.7 percent of voters supporting the decision.
The fact that only 61.6 percent of eligible shareholders took part in the voting process means that the company’s fate was decided primarily by its state shareholders, such as the Federal Property Management Agency, Svyazinvest and VEB, Vedomosti reported Friday.
Private shareholders who abstained from voting are now eligible to demand share buyback by the company. The company agreed to pay 136.05 rubles per ordinary share and 95.24 rubles per preferred share, which is much higher than the trading prices of about 87 and 70 rubles posted at the end of the week.
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Rostelecom’s Merger With Svyazinvest Gets Green Light
