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MOSCOW, August 29. /TASS/. Megafon shares will leave the MOEX Indices starting August 30, 2018, the Moscow Exchange said in a statement.

Megafon shares will leave the MOEX Russia Index, RTS Index, MICEX Broad Market Index, RTS Broad Market Index, MICEX Telecoms Index, RTS Telecoms Index and Equity Subindex of the Pension Indices following the buyback of its own shares by the company and the reduction of the company’s free float to 2%, MOEX said.

Russian businessman Alisher Usmanov’s USM holding controls 56.32% of Megafon. On July 25, 2018, the holding announced the transfer of the USM Group’s major assets owned by a Cyprus-based company USM Holdings Limited to the Russian jurisdiction as part of de-offshorization. The documents on the transfer of 56.32% of Megafon to a Russian entity LLC Holding Company YueSeM (49% controlled by Usmanov) have already been signed.

Gazprombank is the second major shareholder of Megafon. In autumn 2017, it acquired 18.79% of the operator from the co-founder of Megafon, the Swedish telecommunications company Telia Company.

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