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Articles & publications
03.08.2010
RF government approves directive on the election of Igor Schegolev as Chairman of the BoD of SyvazinvestPrime-TASS
The government of the Russian Federation has signed directives for those representing the interests of the Russian Federation, which are members of the Board of Directors of Svyazinvest to vote for Igor Schegolev, telecommunications minister of Russia, to be elected as Chairman of the Board of Directors of Svyazinvest, according to a statement posted on the official website of the government of Russia.
As reported earlier by Prime-TASS, head of the Telecommunications Ministry Igor Schegolev was elected to the Board of Directors of Svyazinvest on July 12, 2010 at the company’s annual general shareholders meeting. Other members of the board of directors include: managing director of VTB-Invest Mikhail Butrin, deputy general director of the Federal Security Service of Russia – head of special communications and information of the Federal Security Service of Russia, Yury Korneev, managing partner of the Direct Investment Fund of Marshall Capital Partners Konstantin Malofeev, member of the board of directors of UBS Bank Marlen Manasov, RF presidential advisor Leonid Reiman, professor of the Higher School of Economics Ivan Rodionov, managing director of MDM Bank Nikita Ryauzov, and the general director of Svyazinvest Evgeny Yurchenko.
Earlier, Igor Schegolev was not a member of the Board of Directors of Svyazinvest. For a number of years, up until June 2008 the Chairman of the Board of Directors of Syvazinvest was former minister of information technology and telecommunications Leonid Reiman. After the new telecommunications and mass communications ministry was established in May 2008, headed by Igor Schegolev, the new lineup of the Board of Directors of Svyazinvest that was elected in June 2008, failed to elect a chairman of the board in conjunction with the absence of an RF governmental directive. Such a resolution was signed by the government only in summer 2009, and on the basis of this directive Leonid Reiman was elected as chairman of the board of directors or Svyazinvest while holding his position as presidential advisor. Following the election of the new lineup of the board of directors of Svyazinvest at the annual meeting held on July 12, 2010, a new directive was needed in order to elect the chairman of the board of directors.
Svyazinvest holding consists of seven regional telecom operators (RTOs): CenterTelecom (ESMO), North-West Telecom (SPTL), VolgaTelecom (NNSI), Southern Telecommunications Company (KUBN), Uralsvyazinform (URSI) Sibirtelecom (ENCO), Far East Telecom (ESPK), and also LD operator Rostelecom, Central Telegraph (CNTL) and Giprosvyaz (GIPS). Svyazinvest owns over 80% of the telecommunications infrastructure of the Russian Federation, their public switched telecommunications networks (PSTNs) have more than 32.5 mln lines in service, providing services to 90% of the population of the country. The reorganization of Svyazinvest is currently underway as a merger between RTOs and Dagsvyazinform and Rostelecom, which is expected to be completed in February 2011.
At present the state owns 75% - 1 share in Svyazinvest, while Comstar-UTS holds 25% + 1 share in the holding. The assumption is that in line with the transaction to swap shares between Svyazinvest and AFK Sistema, the block of Svyazinvest shares owned by Comstar-UTS (25% + 1 share) is to be bought back by Rostelecom for RUR 26 bln by September 27, 2010.
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