Global TeleSystems Group Inc (GTS), the Washington, DC-based European telecommunications company, is planning an IPO of its Golden Telecoms subsidiary which operates in Russia and the Commonwealth of Independent States. While the amount of stock to be offered has still not been decided GTS is likely to remain the majority shareholder. Deutsche Bank is to be lead manager for the flotation.
Golden Telecom provides integrated telecommunications services in the major population centers throughout Russia, Ukraine and the other CIS countries. It operates as a competitive local exchange carrier (CLEC), and offers broadband data and internet services, including Russia On Line.
