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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (66)	4/20/1998 7:30:00 PM
From: Real Man	Read Replies (2) \| Respond to of 1301

MOSCOW, April 20 (AFP) - Billionaire Russian businessman Vladimir Potanin said Monday his powerful Interros group was considering a bid for a second large stake in the Russian telecom's giant Svyazinvest. "We are looking at complementary acquisitions like, for example, taking part in the second auction of Svyazinvest," the influential business leader told a press conference. Potanin's group joined forces with billionaire financier George Soros to pay 1.9 billion dollars for a 25 percent stake in the telecom firm, which groups 85 regional telecommunications firms, in a controversial auction last June. Losing consortia accused Russia's then privatisation overlord Anatoly Chubais of fixing the sale in favour of Potanin. "It is very important that Svyazinvest find a strong partner and investor on the Russian and foreign markets. We are going to try to find such a partner," Potanin said. He welcomed the government's decision to allow foreign investors to take part in the auction of a second tranche of Svyazinvest shares, but urged the authorities in setting the sale price to take the firm's investment needs into account. "I hope that the government is not only going to set itself fiscal goals, but will give investors the means to develop Svyazinvest," Potanin said. The state will retain the remaining 51 percent of the shares in the telecom giant, which controls more than 20 million of the 25.5 million existing telephone lines in Russia.