Russian national operator Rostelecom has announced that it is considering selling its 2.95% stake in Samara-based mobile operator SMARTS Group back to the latter’s controlling shareholders. According to Rostelecom, on 29 June the structural reorganisation of SMARTS Group was approved at its annual general meeting (AGM), and the current business will be divided into four private limited liability companies. Although Rostelecom did not participate in the AGM, in accordance with Clause 1 of Article 75 of the federal law on Joint Stock companies, it has the right to submit all or a part of its shares to SMARTS for a mandatory buyback.
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OVETEL Rostelecom poised to offload minor stake in SMARTS
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