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The Innovative Development Program of the Svyazinvest Group of Companies, which is to be carried out by Rostelecom, comprises four main areas. This news was announced today during a speech delivered today by Rostelecom vice president of innovative development Alexey Nashchekin at a forum organized by Vedomosti business daily

Rostelecom expects to work out the concept for its national platform on the basis of cloud computing, vice president of Rostelecom Akexey Nashchekin said on Wednesday at a press conference held by Vedomosti business daily

The board of directors of Rostelecom (RTS: RTKM) will examine on June 9 the issue of making amendments to the operator’s program of long-term incentive for employees

Rostelecom, which has become the consolidation hub for the state’s main telecommunications assets, has prepared its business development strategy up until 2015. The operator expects to increase its revenue 1.5-fold to RUR 431 bln, of which RUR 362 could be required for investments. The operator intends to conquer leadership in nearly all markets, except for mobile voice, since it is too late for this segment

The government committee for transportation and telecommunications has approved a merger between Rostelecom and Svyazinvest, although the final scenario for the reorganization will be considered at a later time, Interfax was told by two sources familiar with the results of the meeting

At today’s meeting of the government committee on transportation and telecommunications, the telecommunications ministry will propose merging Svyazinvest and Rostelecom. This news was reported to TASS Telecom by a source at the ministry

No sooner has Svyazinvest completed the merger with Rostelecom than the latter is looking to buy out cellular company Sky Link from the holding. This would allow the operator to more rapidly enter the mobile Internet access market

The board of directors of Rostelecom has recommended that shareholders at the annual meeting pass a resolution to pay out dividends on preferred shares equal to RUR 0.4344 apiece

The board of directors of Rostelecom has unanimously approved the business development strategy of the merged company until 2016. By 2015, Rostelecom expects to command up to 50% of the Russian broadband Internet market by 2015, 22% of the broadband wireless access market and 30% of the pay TV segment, and also to provide cellular connectivity to all Russian regions by the end of this year

Rostelecom reported net profit of RUR 771.9 mln in the first quarter of 2011, which is 25% less than in the same period last year, i.e. RUR 1.03 bln

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