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Articles & publications
28.06.2010
Shareholders of Rostelecom approve the merger with Svyazinvest’s regional telecom operatorsITAR-TASS
Rostelecom’s shareholders approved the merger with the regional telecommunications operators of Svyazinvest within the framework of the reorganization of the state holding. A total of 97% of the company’s shareholders at the general shareholders meeting held today voted for this reorganization plan.
“Irrespective of the decisions adopted by Far East Telecom and Dagsvyazinform, we can state with certainty that the merger is a done deal”, the general director of Svyazinvest Evgeny Yurchenko pointed out.
In line with the merger process, CenterTelecom, Sibirtelecom, Far East Telecom, VolgaTelecom, North-West Telecom, Uralsvyazinform, UTK and Dagsvyazinform are to merge with Rostelecom. As a result of the reorganization of Svyazinvest, instead of 8 operators a single universal operator will be established that is capable of providing on a national scale the whole range of advanced telecommunications services.
According to the general director of Rostelecom Anton Kolpakov, within the current structure competition takes place between Rostelecom and regional companies for a number of services. Mr. Kolpakov went on to say that investments are inefficient in building networks when it is not possible to provide services on a national scale. “The consolidation of assets on the basis of Rostelecom will make it possible to put an end to this conflict of interests, increase market capitalization and boost share liquidity”, Mr. Kolpakov believes.
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