Moscow. November 24. PJSC Rostelecom consolidated 100% of ordinary shares of JSC “Bashinformsvyaz”, completing the buyback within coercive tender offer (squeeze-out). As a result, voluntary and involuntary buyout “Rostelecom” has spent a total of 2.4 billion roubles, is spoken in the message of the company.
Full consolidation of ordinary shares “of Bashinformsvyaz” will improve the level of corporate control and will contribute to a more active operational integration, and calculates “Rostelecom”.
In July 2014, “Rostelecom” under the voluntary offer (8,53 ruble per share) acquired by Gazprombank of 25% stake “of Bashinformsvyaz” for 2 billion and bought back some shares from minority shareholders. Before the offer “Rostelecom” and its affiliates owned 71,09% stake in regional operator.
In late August the company announced squeeze out the remaining stake of ordinary shares (3,44%) at a price 8,87 rubles per share. To declare a forced purchase “Rostelecom” was able, as his share in “bashinformsvjaz” has exceeded 95%.
“Bashinformsvyaz” – a major player in the wireline market in Bashkiria. The company owns telecommunication infrastructure in the largest cities of the Republic with the total length of fiber-optic network of more than 21 thousand km of “Bashinformsvyaz” serves more than 800 thousand subscribers of fixed telephony, 490 thousand broadband subscribers, and over 390 thousand subscribers TV.