Moscow Times 9 October 2012
The country’s second-largest mobile phone operator, MegaFon, said Tuesday that it plans to launch an initial public offering on the London Stock Exchange.
The IPO, to be completed in the fourth quarter, will give investors the chance to buy into a player that is outpacing its peers in a growing home market but, unlike rivals, is shielded from tricky overseas operations and complex corporate disputes.
Russia’s richest man, Alisher Usmanov, took control of the company in April.
MegaFon received regulatory approval in September to list 123.38 million shares, or 19.9 percent of the total, in London, and analysts estimated at the time that the share sale could raise about $3 billion.