July 16, 2018 / 7:35 AM / a month ago

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

MOSCOW (Reuters) - Russia’s Gazprombank may provide financing to Megafon (MFON.MM) 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.

FILE PHOTO - The logo of Gazprombank is pictured at the company's stand during the St. Petersburg International Economic Forum 2016 (SPIEF 2016) in St. Petersburg, Russia, June 17, 2016. REUTERS/Sergei Karpukhin

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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