TeliaSonera (OMX: TLSN) gained on Friday as more whispers that a solution for MegaFon structure going forward may be nearing surfaced. Reuters speculated, cited banking sources that the second biggest mobile firm in Russia might float 20% of its shares in a London Stock Exchange IPO that might value the company close to 20 billion USD (over 15 billion Euros).
Nordic telecommunications company TeliaSonera is currently the largest owner with 43.8% of the shares. It has long been said that billionaire Alisher Usmanov, who currently holds over 30% of shares, is seeking majority. The other billionaire owner MIkhail Fridman, who has the remaining just over a quarter of shares, is seen to be cashing out in such a scenario. This could be done through a share buyback and an ensuing cancellation of his shares.
It should be quite evident from the Telenor – Weather Investment saga in VimpelCom, that TeliaSonera can hardly hope to attain an outright majority in the operator. That is why it is being suggested, that TeliaSonera would be the party selling some of those shares in the IPO, so that control would stay in Russia.
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