Rostelecom completes second stage of Svyazinvest reorganisation

4 Oct 2013

Russian national operator Rostelecom has announced that Svyazinvest, alongside 20 other joint-stock companies, which are either directly or indirectly controlled by Rostelecom and/or Svyazinvest, have now been excluded from the Unified State Register of Legal Entities following their official mergers with Rostelecom. This development brings to an end all activities carried out by Svyazinvest, and Rostelecom has now assumed all rights and responsibilities for the merged companies in accordance with the transfer deeds.

As a result of the reorganisation, the Russian Federation (represented by the Federal Property Management Agency), together with Vnesheconombank, now owns more than 51% of the company’s ordinary shares. The total number of ordinary shares in Rostelecom has been reduced by 9.3%, following the conversion of Svyazinvest’s ordinary shares into additional Rostelecom ordinary shares, and the cancellation of 1,345,556,268 Rostelecom ordinary shares, which previously belonged to Svyazinvest.

Russia, Rostelecom, Svyazinvest