Region appeals to Putin to transfer controlling stake

Published: 2/28/2000

Victor Tolokonski, Governor of the Novosibirsk region, has asked Acting President Putin to transfer the controlling stake in OAO Tolmachevo Airport to the Novosibirsk regional administration. It is proposed that the dividends on ordinary shares will be transferred to the federal budget during the term of management of the stake by the administration. The request follows an ongoing debate on the ownership of the airport. The transfer of shares in the airport was originally promised by former President Yeltsin, some four years ago, then cancelled in January 1999. The subsequent tender, in October, of the state"s 51% stake, ended in failure. Sibir was rumoured to be interested in gaining control of the airport, especially given that Sibir representatives sit on its board including the General Director Filov. This latest move by the region suggests that it may, at last, have gained the upper hand. In December 1999, Tolmachevo Airport reported declining volumes but a pre-tax profit of 60m rubles ($2.42m), reflecting increased sales and cost rationalisation. Associated articles: www.concise.org 25th August1999; 20th October 1999; 2nd December 1999; 9th December 1999

Article ID: 1483