AFK Sistema Acquires Minority Stake
AFK Sistema unveiled yesterday the selling details for 1.9 percent of its stocks. Four BOD members of Sistema sold some stocks past Friday, and Sistema itself was the end buyer. Sistema purchased its stocks in an effort to stop the quote decline, the analysts speculate.
Key sellers of Sistema’s stocks were four BOD members, including Vyacheslav Kopyev, Alexander Leiviman, Dmitry Zubov and Sergey Gorbatovsky, who sold to Credit Suisse 1.37 percent in the corporation by portions of between 0.03 percent and 0.65 worth $163.9 million overall, AFK Sistema reported Monday. A source close to the deal said three or four former managers of Sistema also disposed of some stocks. As a result, Credit Suisse acquired 1.9 percent in Sistema on aggregate.
The sellers couldn’t be reached for comment yesterday. Spokesmen of AFK Sistema didn’t comment on the sale either.
Sistema announced it bought out the better part of the stocks (1.73 percent) from Credit Suisse via its subsidiary, Sistema-Finance, for $207 million. “They could be used both under the option program and as a financial lever,” said Irina Potekhina, who is in charge of the PR department of the corporation.
www.kommersant.com
All the Article in Russian as of Oct. 17, 2006
|
