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Russia's MegaFon back to IPO plans - paper
April 11, 2012 / 5:17 AM / 6 years ago

Russia's MegaFon back to IPO plans - paper

MOSCOW, April 11 (Reuters) - Stakeholders in Russia’s No.2 mobile phone operator MegaFon have returned to the idea of floating its shares on the stock market, Kommersant business daily said on Wednesday, citing industry sources.

The news came after reports that Russian billionaire Mikhail Fridman may sell his 25.1 percent stake in MegaFon to tycoon Alisher Usmanov.

Usmanov, a stakeholder in north London football club Arsenal, already owns 31.13 percent of MegaFon through his AF Telecom holding company, according to the company’s website.

MegaFon had previously planned to go public in 2009, but the plans were thwarted by a shareholding conflict and financial crisis.

“The final decision could be taken by early July,” a telecom industry source is quoted as saying by the paper about the IPO.

He said that one of the possible scenarios for the initial public offering would be to float a part of Usmanov’s share if he acquires the stake in Altimo, the telecoms unit of Fridman’s Alfa-Group.

MegaFon was not immediately available for comment.

Privately-owned MegaFon is second to No. 1 wireless operator MTS, and is part-owned by Nordic telecoms firm TeliaSonera. (Reporting by Vladimir Soldatkin; Editing by Daniel Magnowski)

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