MegaFon shareholders approved stake purchase in

Megafon shareholder

General meeting of OJSC “MegaFon” shareholders held on 20 January approved the acquisition of shares in Group. As reported by “MegaFon” in support of the transaction 209 million 293 thousand 635 of shareholders had voted and the 10 million 765 thousand 598 shareholders voted against. Another 176 thousand 500 shareholders abstained from voting.

The information that “MegaFone” has decided to buy a controlling stake in the Group voting shares, became known in December last year. “MegaFon” has offered a 24 percent premium to the Group stock price on the London stock exchange and in aggregate was willing to pay $740 million for the asset. The sellers of Group controlling stake are the structures of the USM Holdings of businessman Alisher Usmanov, who is also the main shareholder of “MegaFon”.

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