Tuesday, November 20, 2012

MIA actions undertaken are not related to "Rostelecom"

MIA actions undertaken are not related to "Rostelecom"
 Interior Ministry's investigative activities not associated with "Rostelecom" and held in connection with the possible theft of credit in one of the banking institutions, told RIA Novosti on Tuesday, the press center of authority.
Previously, the newspaper "Kommersant" reported the raids home of the president of "Rostelecom" Alexander Provotorova and shareholder, founder of Marshall Capital Konstantin Malofeev. The newspaper said the search is held on charges of embezzling 200 million rubles from VTB, the Malofeev taken into custody, and Provotorov (head of the fund in 2005-2009) may be detained in the evening.
The newspaper also reports that detained the legal representative of the fund Marshall Capital Dmitry Skuratov. His father, former Prosecutor General Yuri Skuratov on air "Kommersant FM" reported that Dmitry interrogated on charges of embezzlement. Investigators, according to the publication, also detained general director "Rusagroprom" Eugene flint, previously announced in the federal wanted list, and showed her a charge of fraud on a large scale.
"Rostelecom" has not commented on the information about the searches at Provotorova.
"Russian Interior Ministry conducts investigative actions against specific individuals on the alleged theft of credit from one of the banking institutions," - said the representative office.
The press center noted that "in respect of" Rostelecom "no investigative actions the Russian Interior Ministry does not hold."
According to "Kommersant", investigations are conducted under the case of embezzlement of the British "daughter" VTB - VTB Capital Plc. credit allocated by the company "Rusagroprom" to buy the company for dairies Nutritek International Corp. (Part of "Nutritek"), previously controlled entities largest minority shareholder of "Rostelecom" Konstantin Malofeev.
Reports of searches have brought down Provotorova shares of "Rostelecom" (ordinary shares fell by 3.7%, "prefecture" - 3.5%). On Wednesday the company plans to publish audited financial results for the third quarter. Company does not intend to transfer disclosure, said its representative Cyrus Kiryukhina. Analysts from "Opening Capital" forecast decline in net profit of the operator by 31.9% - up to 7.009 billion rubles. Revenue is forecast to grow by 31.9% - up to 76.602 billion rubles.
Prior to joining the telecommunications sector 38, Provotorov for four years worked for the MarCap - 2005-2008 Director General of OOO "Marshall Capital", and in 2009 he headed the office of MarCap Advisors Ltd. Up to July 2010 he worked as first deputy director Provotorov "Svyazinvest" (the largest shareholder of "Rostelecom"), then headed telekomoperatora state.
Malofeev is the largest minority shareholder of "Rostelecom". Earlier it was reported that he owns shares of the operator through the Universal Telecom Investment Strategies Fund SPC, operated by Universal Telecom Management (both structures belong to Gazprombank). Malofeev control 100% Universal Telecom through offshore Tarsara Portfolio Corp. As of April 2012 Gazprombank owned 9.67% of ordinary shares of state companies. Bank since 2009, actively buying shares of regional companies "Svyazinvest" to their adherence to "Rostelecom". The former head of "Svyazinvest" Evgeny Yurchenko claimed Gazprombank bought shares in IRAs for Marshall Capital. The former head of the Ministry of Communications Leonid Reiman said that Malofeev bought shares, knowing the future conversion ratios in the securities market IRAs "Rostelecom".
In 2009 Malofevv joined the Board of Directors of "Svyazinvest" as an independent director on the state. In leadership positions in the holding and in "Rostelecom" worked at different times several former employees of the fund.
The current head of the Ministry of Communications Nikolay Nikiforov, appointed to the post in May, has repeatedly criticized the "Rostelecom" and its management. Ministry even attempted dismissal Provotorova - relevant government directive was prepared, but it is not agreed on the Presidential Administration.

Read on: Ministry of Internal Affairs conducted actions are not related to "Rostelecom" | RIA Novosti

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