Russian gov't to retain "golden share" or blocking stake in Rostelecom if shares sold - Nikiforov
MOSCOW. June 11 (Interfax) - The Russian government will retain a golden share or blocking stake in OJSC Rostelecom if the company is privatized in the future, Communications and Mass Media Minister Nikolai Nikiforov told journalists.
"It is obvious that at least some stake - a golden share or 25% plus 1 - should remain," he said.
"There are a number of orders under which [Russia's Federal Property Agency] Rosimushchestvo is prescribing the specificities of possible shareholders agreements [with future owners of the state's shares], [such as] how relations with an investor should be formulated, what veto right remains with the government" Nikiforov said.
The government's stake is being prepared for sale, he said, adding that the Communications Ministry's main issue is serving the interests of special users of Rostelecom's services. "We see a difficult process as concerns Rostelecom's involvement with providing services to special users," Nikiforov added.
He did not specify in what timeframe the government's stake in Rostelecom could be sold. "[Privatization] is not a goal in and of itself for the government. The issue requires a balanced decision, analysis of all 'fors' and 'againsts', and consideration of the situation on world markets," Nikiforov said.