MOSCOW, February 22 (RIA Novosti) - The Federal Service for Financial Markets suspended trade in Rostelecom common stock for one hour on the Moscow Interbank Currency Exchange (MICEX) Wednesday evening after the shares of Russia's largest intercity and international communications provider jumped by more than 10%.
Analysts said there were no obvious reasons for such a leap.
Irina Lozhkina, an analyst at the Prospect investment company, said: "There are no fundamental reasons for such a sharp rise. It may have been caused by a long-lasting slack period."
Troika-Dialog analyst Yevgeny Golossnoi attributed the jump to the upcoming privatization of Russian state-controlled telecoms giant Svyazinvest, which unites Rostelecom (RTS ticker: RTKM) and seven regional fixed-line operators.
