10 June 2004 17:59
Russia - Central Telecom to take over five telecoms firms
Central Telecom (Russia), state-owned company, is close to completing the takeover of five telecoms firms, which it will merge with ROSNET, corporate telecoms subsidiary. Central Telecom plans to invest USDlr22 mil in ROSNET in 2004, or six times as much as in 2003. The company aims to dominate the corporate telephony value-added Niche, according to a report in Vedomosti newspaper. Although Central Telecom's prices are regulated strictly by the govt, those of its subsidiaries are not, and give the group a better way to increase its revenue.
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