Rostelecom Shareholders Advised to Vote Against Mobile Spin-Off Plans

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A Russian organisation that advises small shareholders on how to vote in issues has advised its members not to support the planned merger of the Tele2 and Rostelecom mobile networks.

The Investor Rights Protection Association says that it disagrees with the valuation applied by Rostelecom to its mobile assets, which under the plan it would split off and merge with Tele2 Russia.

The Association was also concerned that the spin-off plan could delay a further stock market listing for the company, which is currently expected to take place by 2016.

The shareholders are due to vote on the matter at the end of this month.

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Tags: rostelecom  tele2  Russia 

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