Russian tycoon Suleiman Kerimov has reportedly purchased a 6% stake in national operator Rostelecom fromYevgeny Yurchenko, one of the telecoms firm’s most prominent minority shareholders. Reuters reports that Yurchenko, the former chief executive of Rostelecom's state-owned holding company Svyazinvest, does not intend to extricate himself from Rostelecom entirely, however, and retains a 2% stake in the company. Whilst the stake was worth as much as USD900 million based on Monday's share price, Reuters says that the deal was likely to be priced at a significant discount, after a number of margin calls on the shares bought by Yurchenko
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OVETEL Tycoon scoops up Rostelecom minority stake
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