Megafon tripped on technicality

Megafon, the Russian telecoms firm, postponed the start of a management roadshow for a $2bn IPO on Monday, blaming a delay in getting UK Listing Authority sign-off on its prospectus. Bankers working on the deal insisted that there was nothing untoward and that the company could pick up where it left off to complete the IPO by the end of November after publishing third quarter results on or around November 8.