MGTS shareholders to elect new board of directors April 22
MOSCOW. Feb 9 (Interfax) - The shareholders of Moscow City Telephone Network (MGTS) will be electing a new board of directors at an extraordinary meeting scheduled for April 22.
The will also dismiss the current board and auditing commission and elect a new one.
The register of shareholders eligible to take part in the voting was established as of February 8.
At the end of December, it was announced that AFK Sistema had completed two months before an exchange of assets with state-run telecommunications holding Svyazinvest, resulting in the acquisition of 28% of the ordinary shares (23.3% of charter capital) in MGTS.
Sistema has already put an offer on the table to acquire the outstanding 2.04% of MGTS ordinary stock from minority shareholders at 436.2 rubles per share. That was the price in the deal with Svyazinvest. Ernst & Young had calculated the value of the state holding's stake in MGTS at 9.75 billion rubles, or 436.2 rubles per share.
Comstar UTS, controlled by OJSC Mobile TeleSystems (MTS) , owns 69.9% of MGTS capital and 69.96% of its ordinary stock. MTS is looking to buy a stake in MGTS from its parent company, MTS President Mikhail Shamolin said not long ago.
MTS currently owns 70.97% of Comstar (73.33% with the exclusion of treasury shares).
MGTS is Moscow's main fixed-line communications operator, serving 4.3 million customers, of whom 3 million are private individuals.