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Articles & publications
27.05.2010
Svyazinvest: asset consolidation will lift the capitalization of the merged Rostelecom, which is to become a new blue chip on the stock exchangesFinam
By 2015 the New Rostelecom intends to rank at least fourth on the telecommunications services market by growth in the subscriber base and revenues. The company also intends to raise its share of the paid TV market to 17%, according to first general director of Svyazinvest Alexander Provotorov during the international forum “Telecom-2010” which is being conducted by Vedomosti newspaper.
The legal aspects of the reorganization of Svyazinvest are expected to be completed by February or March 2011.
Comments. Alexander Provotorov, first deputy general director of Svyazinvest.
”Recently we’ve been hearing a lot of statements to the effect that after the reorganization of Svyazinvest, the company that we still conventionally refer to as Rostelecom, will “crush” the current market of telecommunications players. I would like to say that it isn’t going to happen. The reorganization of Svyazinvest calls for the formation of a single management company, the consolidation of all its assets, the purchase of Sky Link and operating 2,300-400 MHz licenses in Russia. By contrast, the active cellular subscriber base of Big-3 operators substantially exceeds the subscriber base of Svyazinvest.
It should also be noted that the state is not providing us with any preferences during the merger process, while in terms of regulatory attention by the Federal Anti-Monopoly Service, Svyazinvest faces much stricter conditions than MTS, VimpelCom or MegaFon. Nonetheless, we are hopeful that asset consolidation will improve the capitalization of the merged company, and the shares of the new Rostelecom will essentially become a new blue chip on stock exchanges.
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