MOSCOW, March 15 (RIA Novosti) - The Russian Federal Property Fund has sold a 3.3% government stake in Russia's largest telecoms operator in the northwestern region for more than 1.5 billion rubles (about $57.4 mln), the fund's spokesman said Thursday.
The initial price of the government stake in the charter capital of North-West Telecom was set at 1.124 billion rubles (about $42.9 million), with a bid increment of 20 million rubles (about $765,000). The stake was sold through an open auction, the fund said.
"The investment financial company Metropol, which offered 1.54 billion rubles for the asset, was recognized as the auction winner," the spokesman said.
North-West Telecom (formerly St. Petersburg Telephone Network), whose licensed territory covers all of Russia's Northwest Federal District, with a population of 13.7 million, is 39.5% owned by telecoms giant Svyazinvest.
