Mustcom shake up to put Russian State in control of Sviazinvest

According to head of the holding company Interros Vladimir Potanin, the Mustcom consortium, owner of 25 percent plus one share of Sviazinvest is soon to be reorganized. Today the consortium brings together George Soros's Quantum (about 50 percent), the American bank Morgan Stanley (about 10 percent), Interros (about 10 percent), and about 30 smaller shareholders. Mr. Potanin says once Mustcom is reorganized each of its participants will become a direct owner of Sviazinvest shares, i.e. Quantum will own about 10 percent of the telecommunications holding, Morgan Stanley and Interros - about 2 percent each, and the shares of others will be even smaller. When the reorganization process is complete, in order to make a Sviazinvest-related decision Russia - the owner of 75 percent of Sviazinvest - will only need to get support from any of the shareholders - even the smallest one - and the blocking effect of the 25 percent plus one share package will be overcome.

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