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Rosimushchestvo acquired 7.43% of voting shares of Rostelecom

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The Federal Agency for State Property Management (Rosimushchestvo) acquired 7.43% of voting shares of OJSC Rostelecom, the latter informed.

This asset previously belonged to the state-owned corporation Deposit Insurance Agency (DIA).

Before that, it was state-owned corporation Vnesheconombank (VEB) who owned 7.43% of voting shares of Rostelecom.

Rostelecom is the national communication operator leading in the amount of long-distance domestic and international data traffic and operating the land-line network of television and broadcasting channels. In April 2011, Rostelecom absorbed interregional communication companies Centertelecom, Sibirtelecom, Dalsvyaz, Uralsvyazinform, VolgaTelecom, SZT, YTK and Dagsvyazinform. The total spread of the merged company's highway communication network is 500,000 km all over the Russian territory. The company has access infrastructure to approach 35 million Russian households.

The major shareholder of Rostelecom is the government which secures 53.25% of common shares through Svyazinvest, Deposit Insurance Agency and Vnesheconombank. Rostelecom's securities are traded on the Russian Stock Exchanges RTS and MISE as well as in the electronic kerb trading system OTCQX in the USA.

According to the information and retrieval system DataCapital, net profit of OJSC Rostelecom (RAS) for H1 2011 grew 6.23-fold to 13.939 billion Rub. from 2.233 billion Rub. for the same period in 2010. Revenue grew 2.8-fold to 79.875 billion Rub. from 28.467 billion Rub., sales profit 4.91-fold to 15.763 billion Rub. from 3.209 billion Rub.

Rostelecom's net profit (IFRS) for 9 months 2011 rose by 2% to 29.397 billion Rub. from 28.885 billion Rub. for the same period in 2010. Revenue increased by 7% to 217.458 billion Rub. from 203.287 billion Rub. OIBDA grew by 5% to 85.517 billion Rub. from 81.525 billion Rub., OIBDA margin was 39.3%. Net profit for Q3 2011 grew by 1% to 10.285 billion Rub. from 10.149 billion Rub. for Q3 2010, revenue by 8% to 73.86 billion Rub. from 68.574 billion Rub.

"AK&M", 18/01/2012

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