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UTK

February 4, 2003

On 31 January 2003 OJSC "Vympelcom-Region" completed a deal to buy 90 percent of CJSC "StavTeleSot"

41 percent of CJSC "StavTeleSot" was acquired from OJSC "Stavtelecom named after V.I. Kuzjminov" (51 percent of which are owned by "UTK" PJSC , 30 percent - by "United Energy Systems of Russia" and its affiliates, 19 percent - by NPO "VIENS", Riga), and 49 percent - from TELENOR Mobile Communications AC.

Thus, at present the shareholders of CJSC "StavTeleSot" are OJSC "Vympelcom-Region" (90%) and "UTK" PJSC (10%).

"UTK" PJSC's 10%-stake of CJSC "StavTeleSot" is to be sold by the end of 1H03 after obtaining all necessary corporate permits.

CJSC "StavTeleSot" is the leading cellular operator in the Stavropol Territory with number of subscribers exceeding 200 thousand as of 20 January 2003.By the end of 2003 number of subscribers is to be increased to 370 thousand.

"UTK" PJSC is the main telecom operator in the territory of the Southern Federal District. In 2003 it generated 330 million USD, number of communication lines exceeded 3.2 million.

 

 

 

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