Ekaterinburg – December 24, 2009 – Uralsvyazinform (RTS: URSI/URSIP, ADR: UVYZY/ UVYZYP), the leading carrier of fixed-line and mobile services in the Urals region, Russia signs an acquisition agreement to take over 100% share of OOO Yuzhno-Uralskaya Telefonnaya Kompaniya
On December 23, 2009 Uralsvyazinform signed an agreement to acquire 100% stake in OOO Yuzhno-Uralskaya Telefonnaya Kompaniya.
The acquisition terms and conditions were approved by the BoD on December 10, 2009. On December 15, 2005 Federal Antimonopoly Service validated Uralsvyazinform’s request to purchase 100% stake in the YUTK.
YUTK was established in 1996. The company is a provider of fixed line telephone services, Internet (telematic services), channel lease and other telecom services in the cities of Chelyabinsk, Magnitogorsk and Yuzhnouralsk. Its subscriber base includes 20,500 fixed-line subscribers and 2,500 broadband Internet subscribers.
As commented by Pavel Zaitsev, Deputy General Director and Sales Director of Uralsvyazinform, the acquisition will strengthen Uralsvyazinform’s market position in the main cities of Chelyabinsk region. YUTK enjoys an established clientele, including subscribers in corporate segment. The company has good potential in terms of further broadband expansion - a segment that currently shows the most impressive dynamics among the whole scope of telecom services.