Russian state agrees Svyazinvest takeover-paper
MOSCOW, July 8 (Reuters) - The Russian government, set on playing a bigger role in telecoms, has reached a deal on the purchase of services conglomerate Sistema's (SSAq.L) stake in telecoms giant Svyazinvest, Kommersant newspaper said.
Sistema will hand over 25 percent plus one share of Stvyazinvest and a 50 percent stake in mobile operator Sky Link, the business daily said, citing a letter from Communications Minister Igor Shchyogolev to Prime Minister Vladimir Putin.
In exchange, it will receive a 23 percent stake in the Moscow fixed-line network MGTS (MGTS.RTS).
Sistema's 26 billion rouble ($827.7 million) debt to Russia's biggest lender Sberbank (SBER03.MM) will be taken on by state bank VEB, as part of the deal, Kommersant reported.
The government wants to play a bigger role in the telecoms industry by reforming Svyazinvest -- in which it already holds the remaining 75 percent -- in a way that will allow it to expand aggressively in Russia and abroad [nLC804981].
($1=31.41 roubles)
(Writing by Toni Vorobyova; Editing by Greg Mahlich)
((antonina.vorobyova@reuters.com; Tel: +7495 7751242, Reuters Messaging: antonina.vorobyova.reuters.com@reuters.net)) Keywords: SVYAZINVEST/SISTEMA
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