Usmanov partners may sell out of Megafon holding company - paper
MOSCOW Aug 6 (Reuters) - Two of billionaire Alisher Usmanov's partners in his telecoms holding company Garsdale - which owns a stake in telecoms operator Megafon - are planning to sell out for up to $1.9 billion, the Vedomosti newspaper reported.
Garsdale, which is 82 percent owned by Usmanov with the remainder held by Telconet and state-backed Russian Technologies, controls 50 percent plus 100 shares of Megafon, Russia's second-largest mobile operator, as well as fourth generation service provider Scartel.
Telecoms businessmen Sergei Adonyev and Albert Avdolyan, co-owners of Telconet Capital, plan to sell their 13.5 percent stake in Garsdale, the paper said, identifying Garsdale itself or its other shareholders as a likely buyer.
The price could be around $1.8 billion to $1.9 billion, but it is unclear whether this includes a $500 million loan by Garsdale to Scartel, the paper said.
Analyst Elina Kulieva at Alfa Bank estimated that Garsdale may be worth around $10.7 billion, valuing Telconet's stake at nearly $1.5 billion.
A deal may happen at the same time that Megafon buys Scartel, the paper said. Megafon has been in talks to buy Scartel from Usmanov and recently received regulatory clearance for such a deal.
The Scartel deal is expected to be discussed on Wednesday at Megafon's board of director's meeting, Vedomosti wrote.
Sberbank analyst Anna Lepetukhina wrote in a research note that if proceeds from selling Scartel were used to buy out Telconet, Usmanov's USM Holdings would not receive any cash.
"This implies that Usmanov might be interested in generous dividends from Megafon even after the sale of Scartel," she wrote.
Usmanov's holding company could not immediately be reached for comment. Telconet also could not be reached for comment, while Megafon declined to comment. (Reporting by Megan Davies; Editing by Mark Potter)
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