Press release
Vladivostok. October 28, 2009: Far East Telecom has become the sole shareholder of Sakhatelecom. Today amendments were made to the shareholder register of Sakhatelecom: the title to a 49% equity position in the Yakutia telecom operator was assigned to Far East Telecom. As a result of an auction which took place on October 20, 2009 a purchase/sales agreement was concluded for a 49% stake in Sakhatelecom. TheamountofthetransactionwasRUR1,317,750,000. For the record, a 51% stake in Sakhatelecom has been owned by Far East Telecom since 2007.
General director of Far East Telecom Andrey Balatsenko had the following to say: “All management trends at Sakhatelecom will remain in place, first and foremost, growth in economic efficiency, and also development of the region’s telecommunications infrastructure for the purpose of providing high-tech services to households in the most remote areas. As for the company’s social policy, we’re striving to remain the best employer in the region”.
For reference: Sakhatelecom – leader of the telecommunications industry in the Republic of Sakha (Yakutia). The operator provides local and intrazonal telecom services, Internet access and interactive television services. Sakhatelecom’s revenue in the first nine months of 2009, drafted to RAS, stood at RUR 2.468 bln, while net profit reached RUR 569 mln and EBITDA came in at RUR 874 mln.
