July 16, 2018 / 7:34 AM / a month ago

Russia's Gazprombank may provide financing for Megafon's delisting

MOSCOW, July 16 (Reuters) - Russia’s Gazprombank may provide financing to Megafon to help the country’s No.2 mobile phone operator delist from the London Stock Exchange (LSE), Gevork Vermishyan, Megafon’s executive director, told reporters.

On Monday, Megafon announced a tender offer to buy up to 128,950,036 of the issued and outstanding ordinary shares and GDRs, or 20.8 percent of the company’s issued and outstanding equity, for a total of $1.26 billion as a part of its delisting plan. (Reporting by Anastasia Teterevleva Writing by Katya Golubkova Editing by Louise Heavens)

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