The closedown of OJSC Telecommunications Investment Company (Svyazinvest) and 20 more companies taken over by OJSC Rostelecom is officially registered by making corresponding entries in the Unified State Register of Legal Entities). This marks the end of the second stage of Rostelecom's restructuring process initiated by the President's Decree. As a result, the cross-shareholding at Svyazinvest and Rostelecom was eliminated, the shareholding structure simplified, the operator points out.
Rostelecom has assumed all the rights and obligations of the target companies according to the respective transfer acts.
It will be recalled that the second stage of Rostelecom's restructuring process assumes the takeover by Rostelecom of Svyazinvest and 20 more companies wholly owned, directly or indirectly, by Rostelecom or Svyazinvest: OJSC National Telecommunications, OJSC National Cable Networks, OJSC St. Petersburg Cable Television Company, CJSC Elkatel, OJSC National Cable Networks – EuroAsia, CJSC Novosibirsk Antenna Cable Television Broadcasting, CJSC Teleset-Service, CJSC Eltelekor, OJSC Mosteleset, OJSC Mostelecom, CJSC Teleset, CJSC Teleset Invest, OJSC TNPKO, CJSC Simbirsky Telecommunications Systems, CJSC Svyazinvest, OJSC Russian Telecommunications Network, CJSC Novgorod Datacom, CJSC Parma-Inform, CJSC Enter and OJSC Ingushelektrosvyaz.
On August 29, 2013, Russia's Federal Financial Markets Service registered additional issues of Rostelecom's common shares in the amount of RUB 3.955 million to be placed through conversion during the takeover of National Cable Networks, St. Petersburg Cable Television Company, Elkatel, National Cable Networks – EuroAsia, Novosibirsk Antenna Cable Television Broadcasting, Teleset-Service, Eltelekor, Mosteleset, Mostelecom, Teleset, Teleset Invest, TNPKO, Simbirsky Telecommunications Systems, Svyazinvest and Ingushelektrosvyaz
The additional issue was placed on October 1, 2013, the same day when the closedown of the target companies was officially registered by making a corresponding entry in the Unified State Register of Legal Entities.
Following the additional issue, Rostelecom's authorized capital is RUB 7.28 million represented by 2,669,204,301 common and 242,831,469 preferred shares at par value of RUB 0.0025 (after 1,345,556,268 common shares owned by Svyazinvest were retired).
Rostelecom (tax number: 7707049388) is the national long-distance 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. Total length of Rostelecom's backbone network all over Russia is about 500,000 km. The company's infrastructure reaches 43 million Russian households.
Rostelecom's major shareholder is the government holding more than 51% of its common shares through the Federal Agency for State Property Management and Vnesheconombank. Rostelecom's securities are traded on the MICEX Stock Exchange in Russia as well as in the electronic OTC trading system OTCQX in the USA.
RAS net profit of OJSC Rostelecom for H1 2013 decreased by 25% to RUB 14.667 billion from RUB 19.56 billion. Revenue decreased by 5% to RUB 135.978 billion from RUB 142.867 billion.
IFRS net profit of Rostelecom for Q1 2013, according to the company's unaudited statement, decreased by 49% to RUB 6.413 billion from RUB 12.468 billion for the same period in 2012. Revenue decreased by 10% to RUB 77.067 billion from RUB 85.319 billion OIBDA decreased by 16% to RUB 28.837 billion from RUB 34.408 billion, OIBDA margin to 37.4% from 40.3%.