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TeliaSonera Confirms MegaFon Ownership Structure Talks - Quick Facts

TeliaSonera (TLSNY.PK, 0H6X.L) confirmed that talks are held between TeliaSonera, AF Telecom and Altimo relating to the future ownership structure and governance of MegaFon. Also, the company said these talks have so far not led to any agreement, but if and when a deal is signed, TeliaSonera would present information according to the relevant stock exchange rules.

TeliaSonera's current ownership in MegaFon is 43.8 percent, of which it holds 35.6 percent directly and 8.2 percent indirectly through its 26.1 percent ownership in Telecominvest. AF Telecom's ownership is 31.3 percent of which it holds 8.0 percent directly and 23.3 percent indirectly through its 73.9 percent ownership in Telecominvest, while Altimo's ownership in MegaFon is 25.1 percent.

Founded in 2002, MegaFon's 2011 consolidated revenues went up by 12.6 percent to RUB 242.6 billion.

by RTT Staff Writer

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