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Articles & publications
11.05.2010
Svyazinvest doubled RAS profit in Q110Interfax
Svyazinvest’s RAS net profit rose by 104% in the first quarter of 2010, which is more than double the amount reported last year, the holding’s general director reported to Interfax.
In the first quarter of 2009 Svyazinvest generated net profit amounting to RUR 21.08 bln. By comparison, the holding reported a profit of about RUR 43 bln in the first quarter of 2010.
“The company has not only overcome the crisis, but has also strengthened its market position”, Mr. Yurchenko pointed out.
Svyazinvest owns controlling stakes in Rostelecom (RTS: RTKM) and seven regional telecommunications companies – CenterTelecom (RTS: ESMO), North-West Telecom (RTS: SPTL), VolgaTelecom (RTS: NNSI), UTK (RTS: KUBN), Uralsvyazinform (RTS: URSI), Sibirtelecom (RTS: ENCO) and Far East Telecom (RT: ESPK), as well as Central Telegraph (RTS: CNTL), Giprosvyaz, Dagsvyazinform and financial company Svyaz.
At present, the holding is in the process of reorganization during the course of which the holding’s regional telecom operators are to merge with Rostelecom by way of share conversion.
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