VGTRK set to delist asset

December 3, 2013 08.12 Europe/London By Chris Dziadul

The Russian state broadcaster VGTRK (RTR) is to consider delisting its shares in the European Broadcasting Company (EBK), a wholly owned subsidiary that distributes Euronews in the country.

According to Kommersant, VGTRK will make a decision at a shareholder meeting on December 19. EBK’s interests include the cable network Mostelecom.

However, most of EBK’s revenues – 61% in 2012 – are derived from airtime sales on a frequency that was used by Euronews up until earlier this year but now broadcasts the state-owned channel Moscow.