MOSCOW -- Rostelecom (NYSE: ROS; RTS, MICEX: RTKM, RTKMP), Russia’s national long-distance telecommunications operator, today announced its Board of Directors’ decision to acquire a controlling stake in RTComm.RU.

The decision was reached by Rostelecom’s Board following the recommendation of its Strategic Planning Committee. As a result, Rostelecom’s stake in RTComm.RU will increase to 99.5% from 31.1%. The total cash purchase price is expected to be approximately RUB 1.563 billion.

Rostelecom’s General Director Konstantin Solodukhin commented: “The acquisition of RTComm.RU will enable Rostelecom to increase its presence in the wholesale Internet services market as well as in the market of IP-based services for businesses.”

Rostelecom