"We want to hold an IPO," Sergei Soldatenkov was quoted as saying by his press secretary. "This is unlikely to happen this year, as shareholders have not yet discussed the prospect, but it will be possible in 2009."
MegaFon's main shareholders are Finnish-Swedish TeliaSonera (35.6%), Telecominvest (31.3%), CT-Mobile (25.1%) and IPOC International Growth Fund Ltd. (8%).
MegaFon has so far failed to float its shares on the stock exchange due to long-running litigation between Bermuda-based IPOC and Alfa Group's telecoms arm Altimo over a blocking stake in MegaFon bought by Altimo in 2003. The companies reached an agreement last November, and withdrew mutual claims, with Altimo retaining its stake.
"I am glad the dispute is resolved, and I hope the way to the stock exchange will be open," the MegaFon CEO said.
Soldatenkov estimated his company's market value at 15-20% lower than that of its main rivals, MTS and VimpelCom, which are worth about $33 billion and $34 billion respectively.
