Comstar shareholders approve Svyazinvest stake sale conditions
Russian service provider Comstar-UTSs shareholders have approved additional conditions to its agreement to sell a 25% plus one share stake in Svyazinvest to Rostelecom.
An EGM of Comstar shareholders approved a supplementary agreement to the sale and a series of related transactions reflecting the interdependence of the sale of shares in Svyazinvest and the closing of a share-swap agreement of Moscow city network provider MGTS and internet service provider SkyLink, entered into between Svyazinvest and ComstarÂs owner SistemaÂs Sistem-Inventure arm.
In May, Comstar, MGTS and Rostelecom agreed the sale of ComstarÂs stake in Svyazinvest for RUB26bn (Â630m). The closing of that transaction is not subject to conditions including the swap of SvyazinvestÂs stake in MGTS for Sistema-InventureÂs stake in SkyLink.