Support The Moscow Times!

Rostelecom Backs Shares

Rostelecom’s board approved 2.22 billion new common shares to swap for common and preferred shares of eight regional fixed-line operators that it plans to consolidate, the Russian long-distance telephone company said Thursday in a regulatory filing.

The board also approved issuing bonds to swap for the regional operators’ notes.

Goldman Sachs, Credit Suisse and Gazprombank have bought shares worth 1 percent in Rostelecom, RBC Daily reported, citing unidentified sources. The three investment banks are buying shares in regional telecoms companies on behalf of “a major international player,” it said.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.