Russian national operator Rostelecom announced it completed its merger with eight regional operators.
It has integrated CentreTelecom, SibirTelecom, Dalsvyaz, Uralsvyazinform, VolgaTelecom,, North-West Telecom, Southern Telecommunications Company and…
Russian national operator Rostelecom announced it completed its merger with eight regional operators.
It has integrated CentreTelecom, SibirTelecom, Dalsvyaz, Uralsvyazinform, VolgaTelecom,, North-West Telecom, Southern Telecommunications Company and Dagsvyazinform.
All these companies had previously been subsidiaries of state-owned telecoms holding company Svyazinvest, which retains 43% of Rostelecom’s voting shares.
The ordinary and preferred shares as well as bonds of the merged companies will today be exchanged for newly issued Rostelecom ordinary shares and bonds.
Svyazinvest unveiled plans for the mega merger in February 2009, when it outlined intentions to re-organise its business with a view to becoming a national champion.
Rostelecom GDRs may be listed later this year in London.
Rostelecom’s shareholders and the merged companies’ shareholders approved the reorganisation at their respective general shareholders’ meetings in the summer of 2010.
