MOSCOW Nov 15 Russia's richest man Alisher
Usmanov is to own 100 percent of the voting rights of a holding
company he is setting up with his partners, through which he
will maintain his control over mobile operator Megafon,
according to MegaFon's IPO prospectus.
The preliminary prospectus for the offering said that
Usmanov had reached a definitive shareholders agreement on the
restructuring, securing a 60 percent economic interest in the
company, USM Holdings, while his partners will own 40 percent.
The prospectus, obtained by Reuters, left the date of the
Farhad Moshiri, with whom Usmanov owns a stake in London
soccer club Arsenal, will own 10 percent while Vladimir Skoch,
father of billionaire lawmaker Andrei Skoch, who helped build up
Metalloinvest, the world's fifth largest iron ore company, will
own 30 percent.
Usmanov told Reuters in an interview in September that the
holding company would own stakes in MegaFon, Metalloinvest and
Internet firms such as Facebook and Groupon.
It would have annual profits of around $7 billion and
turnover of up to $25 billion, he said.
Goldman Sachs in October dropped out as an
underwriter of MegaFon's IPO, which one source familiar with the
situation said at the time was due to unspecified shareholding
concerns that were not related to Usmanov.
A separate source familiar with the situation said earlier
in November that if the ownership structure was a concern to UK
regulator the UKLA, another solution could be sought. The UKLA
gave MegaFon's IPO the green light last week, sources said.