Usmanov may swap 31.1 pct in Megafon for Rostelecom stake - News

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Usmanov may swap 31.1 pct in Megafon for Rostelecom stake

By: AFX | 11 Nov 2009 | 01:35 AM ET

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MOSCOW, Nov 11 (Reuters) - Russian billionaire Alisher Usmanov may swap his 31.1 percent stake in Russia's No.3 mobile operator Megafon for a share in long-distance telecom operator Rostelecom, Vedomosti business daily reported on Wednesday. The proposed scheme would let Usmanov tap a fast-growing broadband internet market while maintaining a stake in the mobile sector, a manager close to Usmanov told the paper. A discussion has taken place within the Communications Ministry, an unnamed government official said, but no decision has been taken, the paper reported. Russian state-controlled telecoms group Svyazinvest, a controlling shareholder in Rostelecom, plans to combine seven regional fixed-line telecoms groups under Rostelecom to make it Russia's largest fixed-line operator Government officials say the best way to develop the local telecoms sector is to merge Svyazinvest with one of the three major operators -- MTS, Vimpelcom and MegaFon. The Nordic region's biggest telecoms operator, TeliaSonera , a strategic investor in MegaFon, declined to comment on whether it has received a sale offer, Vedomosti said. Altimo Group, with 25.1 percent in Megafon, has no plans to sell its stake and has not recieved any offer, the company's senior vice-president Kirill Babaev told the paper. (Reporting by Dmitry Sergeyev; Editing by Kim COghill) ((dmitry.sergeev@reuters.com; +7 495 775 1242; Reuters Messaging: dmitry.sergeev.reuters.com@reuters.net) Keywords: MEGAFON SWAP/ COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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