Comstar UTS board approves merger of subsidiaries Telmos, MTU-Inform, CTC Contrast-Telecom, and M-Telecom Holding
January 10, 2007
MOSCOW -- "COMSTAR – United TeleSystems" (MSE, LSE: CMST) today announced the re-organization of its alternative telecom operators based in Moscow, Moscow region and in Saint- Petersburg.
The Extraordinary General Meeting of Shareholders of Comstar UTS, held on December 25, 2006, approved the merger of its 100% - owned subsidiaries Telmos, MTU-Inform, CTC Contrast-Telecom and M-Telecom Holding (100% owner of Astelit) with Comstar UTS.
Eric Franke, Chief Executive Officer of Comstar – United TeleSystems, commented: "The integration of alternative telecom operations into Comstar UTS will facilitate the optimization of the Group's legal structure. This step is in line with the re-organization program of Comstar UTS, which was announced in October of 2006".
Comstar United Telesystems JSC (London: CMST)
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