Confusion over Rostelecom sale

June 10, 2014 09.36 Europe/London By Chris Dziadul

RostelecomThe Russian government does not plan to privatise Rostelecom this year, according to Tatyana Nesterenko, the country’s deputy finance minister.

Quoted by Vedomosti, she added that that this was due to the uncertain value of the asset.

Although the state had initially hoped to receive R196.8 billion from the sale of its 43.07% share capital, or 46.99% of ordinary shares, in the telco, that figure could now be in the region of R170.8 billion.

However, the Finance Ministry subsequently gave an update in its official Titter account in which it said the privatisation was still expected to take place this year.

Rostelecom is one of the leading players in Russia’s pay-TV industry.

It ended 2013 with 7.5 million pay-TV subscribers, while its IPTV subscriber total stood at 2.2 million.