Breaking News : Russian Govt deal has reached PM Putin's table for final signature!!!!

MTS has reached premiere (PM Putin)
The draft government decision on buying a 20% stake in Indian Sistema Shyam Teleservices Ltd. (SSTL, brand MTS) is included in the Government

Oleg Salman
Maxim Tovkaylo
Bulletin

(translated from Russian Newspaper Vedomosti)

07/15/2010, 129 (2647)

Ministry of Finance agreed on a draft resolution on buying Rosimuschestvo share in the Indian cellular daughter Sistema, told "Vedomosti" a source close to SSTL. The draft is submitted to the government and will soon be signed by the prime minister, confirmed his spokesman Dmitry Peskov.

The state expects to spend $ 676 million deal from the Indian Rupee debt to Russia. From the Indian side of the deal, everything was ready a year ago: Regulators have issued permits, and the shareholders approved the sale of SSTL Rosimushchestvo 19,8% of the enlarged share capital. But the Russian government to agree a deal did not succeed. The reason was Lack of elaboration Rosimushchestvo agreement with the "system" requiring the AFC after five years of purchase from the state share of SSTL at market value or at the purchase price in dollars, with interest. As a result, everything had to start anew - to make the budget expenditure on the transaction and prepare a draft decision. Is there in this project repurchasing shares SSTL «System", the representative of the Ministry of Finance yesterday did not elaborate. Ministry of Economic Development did not respond to questions "Vedomosti".

In June, the selected Rosimushchestvo appraiser - a group of companies "Avers" updated cost estimates SSTL; it increased by about 5% to $ 3.2 billion size of the package, which can be bought Rosimuschestvo - 16-22%. After receiving an update assessment, Rosimuschestvo sent it to the Ministry of Economic Development, knows the source of one of the departments.



Read more: http://www.vedomosti.ru/newspaper/article/2010/07/15/240596