Russia’s TransTeleCom has announced that it is shortly to launch its first long-distance services and hopes to have captured up to 15% of the business long-distance market and 5% of the residential market by 2010. TransTeleCom will become the country’s fourth long-distance operator, joining former monopoly Rostelecom and two new market entrants: Interregional Transit Telecom (MTT) and Golden Telecom.
Meanwhile, Rostelecom has reported a 49% rise in 2006 net profit, boosted by an increase in traffic. Net profits rose from RUB980 million (USD36 million) in 2005 to RUB1.46 billion last year, while revenues were up around 50% to RUB61.6 billion (USD2.26 billion). State-controlled telecoms holding company Svyazinvest has a 50.67% stake in Rosetelecom.