MOSCOW, January 19 (RIA Novosti) - The Federal Financial Markets Service has authorized Russian telecommunications company Comstar United Telesystems to place 35% of its stock on foreign exchanges.
The company is the first to receive FFMS approval to place its securities abroad since this week's change in regulations for Russian companies.
The FFMS earlier this week lowered the limit for the number of shares that can be traded on foreign exchanges from 40% to 35% of a company's total equity.
Comstar United Telesystems was formed in May 2004 through a merger of Comstar, MTU-Inform and Telmos. The company provides telecommunication services, including internet access, in the Moscow Region.
