"OAO Rostelecom headed for the biggest gain in almost two weeks as Russia’s largest fixed-line operator started accepting offers from shareholders after proposing to buy back stock at a premium to the market.
Rostelecom increased as much as 2.4 percent, rising 1.8 percent to 89.76 rubles by 4:13 p.m. in Moscow and poised for the biggest advance since June 17. The amount of shares trading was 1.8 million, equivalent to about 45 percent of the three-month average.
The company started accepting buyout offers from investors who didn’t vote or voted against its merger with OAO Svyazinvest from June 27 and will continue until Aug. 12, according to a statement. The company set a buyout price for its ordinary shares at 136.05 rubles ($4.12) apiece, it said in a March 27 announcement."
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