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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
June 18, 1997
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(Date of Report)
PLD Telekom Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-20444 13-3950002
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(State of other jurisdiction (Commission (I.R.S. Employer
of incorporation or File Number) ID No.)
organization)
680 Fifth Avenue, 24th Floor
New York, New York 10019
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(Address of principal executive offices) (Zip Code)
(212) 262-6060
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(Registrant's telephone number, including area code)
1270 Avenue of the Americas, Suite 2218
New York, New York 10020
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(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS.
On June 18, 1997, the Registrant announced by press release (the "Press
Release") the sale of its 10.4% shareholding in SPMMT, the long-distance and
international switch operator in St. Petersburg, Russia, for $17.2 million.
The Registrant hereby incorporates by reference the Press Release,
which is attached hereto as Exhibit 99.1 and made a part hereof, into this
Item 5.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired: None
(b) Pro Forma Financial Information: None
(c) Exhibits:
99.1 Press Release, dated June 18, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PLD TELEKOM INC.
Date: July 9, 1997 By: /s/ Simon Edwards
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Simon Edwards
Chief Financial Officer and
Treasurer
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EXHIBIT INDEX
Exhibit
99.1 Press Release, dated June 18, 1997.
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PLD TELEKOM INC. PRESS RELEASE
Contacts: United States U.K.
Jim O'Brien Tim Thompson
(212)229-2222 +44 171 730-3999
FOR IMMEDIATE RELEASE
PLD TELEKOM INC. ANNOUNCES SALE OF EQUITY STAKE IN SPMMT FOR $17.2 MILLION
NEW YORK, June 18, 1997 - PLD Telekom Inc. (NASDAQ: PLDI; TSE: PLD) today
announced the sale of its 10.4% shareholding in SPMMT, the long-distance and
international switch operator in St. Petersburg, Russia, for $17.2 million.
Mr. James Hatt, Chairman and Chief Executive Officer of PLD Telekom Inc.,
stated that the strategic rationale for holding equity in SPMMT had dissipated
as PeterStar became more established and entrenched in St. Petersburg. The
monies realized on the sale would be directed at enhancing the product and
service portfolio of the company's operations, together with assisting the
further development of Teleport-TP.
PLD Telekom's strategy is to be a leading participant in the provision of
telecommunications infrastructure, products and services in the emerging markets
of the former Soviet Union, through partnerships with local, regional and
national communications companies. It is already a major provider, through its
operating ventures, of high quality local, long distance, and international
telecommunications services in the Russian Federation and Kazakstan. The three
principal business units are PeterStar, which provides integrated local, long
distance and international telecommunications services in St. Petersburg through
a fully digital fiber optic network; Teleport-TP, which provides international
telecommunications services from Moscow and has launched a long distance service
in the first group of cities of a planned pan-Russian network; and BECET
International, which provides the only national cellular service in Kazakstan.
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