AF Telecom Holding

2018: The company is translated under management of USM Holdings

On August 8, 2018 it became known that the USM holding translated AF Telecom Holding LLC owning 56.3% of MegaFon operator under management of the Russian Holding Company of YueSeM LLC.

The transaction was carried out on August 2. From this point Holding Company of YueSeM LLC became the only participant of AF Telecom Holding LLC which owns 349,170,620 ordinary shares of PJSC MegaFon or about 56.3178% of authorized capital of operator. The transaction is carried out within the program of deoffshorization of assets of USM of the businessman Alisher Usmanov and his partners.

The press service of MegaFon reminded Interfax that at the end of July, 2018 USM published information on transfer of assets of MegaFon completely in the Russian jurisdiction. "We received the formal notice from them on the taken place transaction and, respectively, disclosed information", - told in the company.

To the transaction the Cyprian USM Holdings Limited owned 100% of USM Telecom Holdings Limited which possessed 97.45% in Garsdale Services Investments Limited. Garsdale, in turn, possessed 100% in AF Telecom Holding Limited which was the owner of AF Telecom Holding LLC.