Svyazinvest Swap Questions

By The Moscow Times

Nov. 10, 2010

The government may reconsider coefficients used in the reorganization of its Svyazinvest holding, Vedomosti reported Wednesday.

The government seeks to re-evaluate the terms under which stakes in Svyazinvest’s regional units are swapped for shares in Rostelecom as part of a merger to be completed by March 2011, the newspaper reported, citing government documents it obtained.

The share-swap terms were set “openly and in accordance with the law,” said Igor Pshenichnikov, a spokesman for Svyazinvest. While a review is possible, “it would make no sense,” he said.

(Bloomberg)

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