Comstar consolidates

11 Aug 2009

Russian fixed line operator Comstar United TeleSystems has announced that it has completed the first stage of its corporate restructuring, merging seven of its largest subsidiaries into ‘Comstar-Regions’, a new wholly-owned entity that will serve as the centre for future consolidation of the firm’s remaining regional assets. Comstar-Regions comprises branches in the Central, North-West, Southern, Volga, Ural and Siberian federal districts, with corresponding centres in Moscow, St. Petersburg, Rostov-on-Don, Saratov, Yekaterinburg and Tyumen. Sergey Pridantsev, president and CEO of Comstar UTS, said: ‘We continue to execute on all of our previously set strategic goals to restructure the business and create a unified efficient operating company offering telecommunications services on a national basis. Our subscribers should be the first ones to feel the main benefit of the restructuring of our regional businesses.’ As reported by CommsUpdate on 6 August, Comstar is currently in the process of being purchased by Mobile TeleSystems (MTS), as the mutual parent of both parties, Sistema, is keen to integrate its telecoms assets and promote converged services to the Russian market.