MegaFon shelves IPO plans during economic turmoil

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Mobile operator is only non-listed telco of Russia’s ‘big three’.

Russian mobile operator MegaFon hasn’t set a date for an initial public offering as it isn’t happy with market conditions, the company said in St. Petersburg Thursday, the Interfax news agency reported.
“When a good window that will be acceptable to our investors appears we will go public,” Ivan Tavrin, MegaFon’s general director, is quoted as saying.
He didn’t set a firm date for the IPO saying the company, the only non-listed telecommunications company out of the “big three” providers in Russia, is ready to go ahead at any time, the news agency reported.