Published: November 20, 2012
Decision made with US$2bn share listing in mind.
Russian mobile operator MegaFon has name Lord Myners, the former UK treasury minister, as an independent director. The appointment is seen as an effort to ease shareholder fears about the company’s corporate governance ahead of a proposed US$2bn initial public offering, from which lead bank Goldman Sachs suddenly withdrew.
Although the bank has yet to cite a reason, the Financial Times points to general concerns about owner Alisher Usmanov’s plans to make MegaFon part of a bigger umbrella company that he controls along with two others.