Rostelecom to take over credit obligations of seven regional operators

27 Sep 2010

Russian national operator Rostelecom has announced that it intends to take over the credit obligations of the seven regional operators that are set to combine under the company’s ‘mega-regional’ merger initiative. Rostelecom will take over the obligations of CenterTelecom, North-West Telecom, South Telecom, Volga Telecom, Uralsvyazinform, Sibirtelecom and Dalsvyazinform. According to TeleGeography’s GlobalComms Database, the process will see Rostelecom combine its backbone network with those of seven local access operators, to create a national platform across which it hopes will become a leading mobile, fixed line and broadband operator. Telecoms holding company Svyazinvest hopes to generate USD1 billion in synergies once the process is completed in April 2011.