November 20, 2012 / 6:56 AM / 5 years ago

Homes of CEO of Russia's Rostelecom, investor searched - reports

2 Min Read

MOSCOW, Nov 20 (Reuters) - Russian investigators searched the home of the head of state-controlled telecoms firm Rostelecom and the residence of a shareholder on Tuesday after a complaint brought by bank VTB, Russian news agencies said.

Searches were under way at the home of Rostelecom's chief executive, Alexander Provotorov, and of minority shareholder Konstantin Malofeyev, the Vedomosti and Kommersant newspapers said on their web sites, citing law enforcement sources.

VTB, Russia's second largest bank, has secured a British court injunction to freeze part of the 10-percent stake in Rostelecom owned by Malofeyev's fund, Marshall Capital Partners, to try to recover a $225-million loan from its British unit, the reports said.

Rostelecom spokeswoman Kira Kiryukhina said she had no information about the searches. The police and VTB did not immediately comment. Rostelecom's shares were down 1.4 percent in early trading. (Reporting by Maria Kiselyova; Writing by Douglas Busvine. Editing by Timothy Heritage)

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