Amendments to Svyazinvest charter submitted to government - minister

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MOSCOW, October 17 (RIA Novosti) - Draft amendments to the charter of Svyazinvest, Russia's largest telecommunications holding, expanding the rights of its minority shareholders, have been submitted to the government, Russia's IT minister said Monday.

Speaking at an international economic forum, Leonid Reiman said that consultants from the Economic Development Ministry and the holding said the move would increase Svyazinvest's capitalization.

"It would be right to adopt these amendments prior to privatization, that way the state would demonstrate its openness in regard to the market and Svyazinvest," Reiman said.

The draft amendments envision that key issues will be decided by a qualified majority of shareholders and board members, which means that minority shareholders would be able to block board decisions.

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