Rostelecom acquires 74.57% stake in Globus Telecom, an alternative fixed-line operator in Moscow, for $30 million in cash

April 4, 2006

1 Min Read

MOSCOW -- Rostelecom (NYSE: ROS; RTS, MICEX: RTKM, RTKMP), Russia¡¦s national long-distance telecommunications operator, today announced the acquisition of a controlling stake in Globus Telecom.

Rostelecom has completed the acquisition of 74.57% of Globus Telecom¡¦s shares, a Moscow alternative fixed-line operator, for a total cash purchase price of approximately USD 30 million. 59.32% of shares were purchased from Synterra, and a further 15.25% from RTC-Leasing. The results of operations of Globus Telecom will be consolidated in the Company¡¦s financial statements beginning from April 2006.

Dmitry Yerokhin, General Director of Rostelecom, commented: "The acquisition of a controlling stake in Globus Telecom is an important step towards further strengthening our competitive position in the retail market. It will enable the Company to increase its share of the Moscow corporate market and to expand the range of services to end-customers."


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