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Business news, 07.04.2004 13:36

St. Petersburg loses its share in ‘Tele2’

St. Petersburg loses its share in ‘Tele2’ The Swedish telecommunication holding ‘Tele2’ has twice increased its share in the open joint-stock company ‘Sankt-Peterburg Telekom’ that operates under the ‘Tele2’ trademark.

The corporation has bought out the 14% stock from the Committee for State Property Management of the City Administration, and thus has become the the sole owner of the youngest cellular operator in St. Petersburg.

The press-secretary of the State Property Committee Tatyana Prosvirina has confirmed that “The city has sold the 14% stock due to its inexpedient possession”. The Administration has made no more comments.

‘Tele2’ and the CEO of ‘Sankt-Peterburg Telekom’, Sergei Sukharev, have not revealed their business activities either, due to corporate rules. The holding’s shares, being in steady decline since February, suddenly leaped up in early-April, but experts think the jump of shares has no connection with the stock increase in ‘Sankt-Peterburg Telekom’.

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