print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Svyazinvest press releases

Svyazinvest

January 24, 2005

Uralsvyazinform commences Internet business consolidation

The BoD of Uralsvyazinform adopted a decision at its December 17th meeting to reorganize its data transmission business and telematic services.  The reorganization also includes merging Uralcom and VSNET, two large ISP subsidiaries, to the parent company.

 

According to acting CEO of Uralsvyazinform, Anatoly Ufimkin, the consolidation aims to raise revenues and improve the company’s competitive ability, and raise the quality of management and the economic efficiency of data transmission and telematic services.  As noted by the acting CEO, the company already has experience in conducting large-scale restructuring, i.e. of its cellular business, whereby three operators – Ermak RTS, South Urals Cellular Telephone and Tyumenruscom – are to be merged with Uralsvyazinform.

 

“Uralsvyazinform is developing as a universal information communications company, providing fixed line and wireless solutions, ISP and cable TV.  The company’s universal nature is helping us to stand squarely on our feet and achieve synergetic effects from providing a whole range of services. Consolidation of the Internet business will allow Uralsvyazinform to retain its positions as the largest Internet provider in the Urals federal district and the Perm region”, Anatoly Ufimkin said.

 

All regional branches of Uralsvyazinform, as well as its subsidiaries, offer ISP, data transmission and telematic services.  Uralcom and VSNET are the largest ISP subsidiaries.

 

Uralcom (previously Perminform) was formed in 1995.  It provides data transmission services in the Perm and Sverdlovsk regions and the Komi-Perm autonomous district. Uralsvyazinform is the sole shareholder of Uralcom.

 

VSNET was formed in 1995.  It provides data transmission services in the Khanty-Mansiisk autonomous district – Yugra.  At the time when the decision was adopted to proceed with Internet business consolidation the core shareholders of VSNET were Uralsvyazinform (51.88%) Firma Increment (38.12%), and the Surgut Stock Commercial Bank Akkobank (10%).

 

In December 2004 the BoD of Uralsvyazinform approved the acquisition of 48.12% of the operator’s shares from the shareholders of VSNET for Rub 41.17 mln.  The amount of the transaction was confirmed by an independent appraiser.  According to Russian legislation permission for the transaction was obtained from the Federal Anti-Monopoly Service. The transaction was executed.

 

The BoD of Uralsvyazinform approved the Master Plan for Reorganization of the Data Transmission and Telematic Services Busines.  The merger of Uralcom and VSNET to Uralsvyazinform should be wrapped up by August 1, 2005.

 

Internet from Uralsvyazinform

 

As of October 1, 2004 Uralsvyazinform and its subsidiaries have 88,000 dedicated access Internet subscribers (22% increase in 9M04) and 261,000 switched access users (up 24%).  Dedicated channels are provided using “optics to home/office”, xDSL, and ISDN technology. Internet cards are used for switched access and Internet credit services are also provided (allowing fixed line users to access the Internet using a designated code on credit terms with payment for Internet access payable along with regular telephone services).

 

The largest corporate clients pf data transmission services are the administration of the Perm region and Khanty-Mansiisk autonomous district, the chief administration of Internal Affairs of the Sverdlovsk region, head office of the Bank of Russia in the Perm and Sverdlovsk regions, Tax Service for the Perm and Chelyabinsk Regions, for the Yamal-Nenets Autonomous Districts, the Administration of the Federal Treasury under the Ministry of Finance of the Russian Federation for the Perm region, divisions of the RF Pension Fund for the Kurgan, Perm and Tyumen regions, Magnitigorsk Metallurgical Plant, Mechel, Chelyabinsk Zinc Factory, Yekaterinburg Power Network, Schlumberger branch in Khanty-Mansiisk Autonomous District, Scientific Research Institute of Nuclear Center in Snezhinsk, Yursky IT Scientific Research Institute, branches of Sberbank of Russia in Perm and Kurgan regions, Uralvneshtorgbank, Chelinbank, Khatny-Mansiisk Bank, branch of Gazprombank in the Yamal-Nenets Autonomous District, etc.

 

As part of the Federal Special-Purpose Plan “Electronic Russia” Internet access has been provided to over 1,500 budgetary organizations and institutins (state and regional agencies, high schools and middle schools, cultural and sports institutions, etc.).

 

Uralsvyazinform’s consolidated revenues (including subsidiaries) from data transmission services in 9M04 stood at Rub 688 mln (up from 650 mln for FY03).  In terms of revenues, Uralsvyazinform commands 39% of the ISP market in the Urals federal district and Perm region.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer