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Dalsvyaz closes the acquisition of 51% shares of Sakhatelecom

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Dalsvyaz OJSC closed the acquisition of 51% shares of Sakhatelecom OJSC, the company says.

December 7, 2006, Dalsvyaz won the auction for the right to acquire 51% shares of Sakhatelecom for RUB 2.295 bn. The auction was held in accordance with the resolution on terms of the privatization of Sakhatelecom shares taken by the Ministry of Property Relations of the Republic of Sakha (Yakutia) and approved by the order dated November 2, 2006.

Dalsvyaz also announced it was going to acquire 49% shares more in Sakhatelecom and to bring its share to 100%. The project will be financed from borrowing funds.

Sakhatelecom OJSC is an electric communication operator in the Republic of Sakha (Yakutia). It renders eclectric communication services of all kinds, including Internet-access via xDSL services. The company's authorized capital totals RUB 1.405 bn.

Dasvyaz is one of the seven interregional companies of Svyazinvest. It provides telecommunication services in the Primorie Territory, the Khabarovsk Territory, the Amur, Kamchatka, Magadan, Sakhalin Regions and in the Jewish Autonomous Region.

Dalsvyaz' authorized capital totals RUB 2.535 bn. The company has issued 95581421 ordinary shares and 31168901 preferred shares of RUB 20 par. Svyazinvest is its major shareholder with 50.6% voting shares (38.1% authorized capital).

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