Russian Minister of Communication, Leonid Reiman considers it feasible to continue restructuring the holding company Svyazinvest, he was quoted as saying at the press conference that took place in Ufawithin the context of the IV All-Russian Conference entitled “Issues pertaining to the development of communication infrastructures in rural areas”.
According to him, a stake consisting of 25% of the aggregate stock (minus two shares) should be put up for sale in 2003 in compliance with the privatization program. “It is still a question whether or not to sell the stocks this year,” the Russian Minister said. “Maybe we should continue on Svyazinvest’s restructuring. The adopted decision will be made public in the near future.”
Svyazinvest holding was restructured during 2000-2002. As a result, seven mega-regional telecommunications companies have been formed instead of over 70 regional operators. Earlier, the Minister of Communications had voiced the opinion that the sales offer on a 25% stake in Svyazinvest minus two shares holds no appeal, since this stake is neither controlling nor blocking.