Sluggish Svyazinvest sale progress slowly continues

23 Aug 2005

Plans to fully privatise Russia’s state-controlled telecoms group Svyazinvest have finally been submitted to the government. ‘The decree for the privatisation of Svyazinvest was sent to the government last Friday,’ a spokeswoman for the Russian ministry said yesterday. The sale of the state’s remaining 75%-minus one share holding in Svyazinvest is expected to raise between USD1.5 billion and USD3 billion.

Svyazinvest holds controlling stakes in all seven ‘mega-regional’ operators: Center Telecom, NorthWest Telecom, Volga Telecom, South Telecom, Uralsvyazinform, Siberia Telecom (Sibirtelecom) and Far East Telecom (Dalnevostochnaya). It also has minority stakes in Moscow Local Telephone Network (MGTS), Svyaz Komi Republic, Ruslizinsvyaz and Kostroma GTS, as well as interest in the country’s national long-distance and international monopoly operator Rostelecom.

Russia, Svyazinvest