Rostelecom turns down Synterra offer for ISP stake

13 Dec 2007

Russia’s largest long-distance telephony operator Rostelecom, controlled by state-backed holding company Svyazinvest, has declined an offer from wireless ISP Synterra to buy a 31.59% stake in federal internet service provider RTComm.RU. Synterra placed its bid in October, effective for a period of 45 days, and the Federal Anti-Monopoly Service (FAS) gave Synterra its go-ahead for the acquisition with the right of vote in the ISP. However, Rostelecom explained that the duration of the bid was ‘insufficient for its consideration’, while the price offered by Synterra valued the company lower than its own estimate of between USD70 million and USD90 million. According to its website, RTComm.RU provides internet access services for operators and a full range of information and communication services for corporate customers. The founders of the company are Svyazinvest, Rostelecom, RTK-Leasing, Center for Researches into Telecommunications Development Issues Non-for-Profit Partnership and KFP Finance.

Russia, Rostelecom, Synterra