March 27, 2013 / 2:51 PM / in 5 years

Rostelecom sets buyout offer price ahead of merger

MOSCOW, March 27 (Reuters) - Russian state-controlled telecoms operator Rostelecom said on Wednesday it would buy out shareholders who vote against its merger with Svyazinvest at a premium to the market price.

The company will buy ordinary shares at 136.05 roubles ($4.40) and preferred shares at 95.24 roubles, a spokeswoman said, compared to Tuesday’s closing prices of 120.99 roubles and 89.33 roubles respectively.

Rostelecom plans to merge with its state-run shareholder, holding company Svyazinvest, absorbing its assets and simplifying its ownership structure, with the government set to keep control. ($1 = 30.8922 Russian roubles) (Reporting by Maria Kiselyova; editing by Megan Davies)

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