Dagsvyazinform approves ‘mega-regional’ merger with Rostelecom

29 Jul 2010

Shareholders of Russian regional operator Dagsvyazinform have approved the telco’s long-mooted merger with Russian national operator Rostelecom. The proposal was included in an earlier general shareholder’s meeting, but no decision was taken because of an absence of a sufficient majority. Svyazinvest originally announced plans to restructure its telecoms holdings in October 2009. The process will see Rostelecom combine its backbone network with those of seven ‘mega-regional’ local access operators, to create a national platform across which it hopes to become a leading mobile, fixed line and broadband operator. Svyazinvest, which aims to complete the merger in April 2011, hopes to generate USD1 billion through synergies. Dagsvyazinform is the last of the ‘mega-regional’ operators to approve the merger.

Russia, Rostelecom, Svyazinvest