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Golden Telecom: Legal Merger of Companies Completed
18 Apr 2003
EDN Sovintel LLC is a leading commercial local, intercity and international
communications operator in Moscow and St. Petersburg and operates on the
basis of the licenses issued by the Ministry of Telecommunications and
Information Technologies of the Russian Federation, including the licenses for
provision of telephone communication, data transmission and telematic services
and for leasing of channels in the territories where TeleRoss LLC previously
carried out its activity.
All services in the merged company will be provided under the Golden Telecom
brand except for the dialup Internet access services directed at the consumer
market, which will continue to be provided under the trademark ROL.
Commenting on this event Alexandr Vinogradov, President and Chief Executive
Officer of Golden Telecom, Inc., said: "We have now completed the legal
formalities to allow the merger of TeleRoss and Sovintel, although, we have been
merged from an operational standpoint for more then six months. Management
will now endeavour to extract further overhead cost and tax efficiencies from this
simplified structure while continuing to provide the usual high quality services to
all customers".Golden Telecom, Inc., NASDAQ: "GLDN" is a leading facilities-based provider of integrated
telecommunications and Internet services in major population centers throughout Russia and
other countries of the Commonwealth of Independent States (CIS). The company offers
competitive local exchange carrier services using its overlay network in Moscow, Kiev, St.
Petersburg and Nizhny Novgorod; data and long-distance services using a fiber optic and
satellite-based network - including approximately 149 combined access points in Russia and
other countries of the CIS; dedicated and dial-up Internet access to businesses and consumers;
Internet content through numerous web brands powered by its ROL brand.
Statements made in this press release, including the anticipated opportunities in
the Russian telecommunications market resulting from the merger of Sovintel
and TeleRoss are made pursuant to the safe harbor provisions of the Securities
Litigation Reform Act of 1995. It is important to note that such statements involve
risks and uncertainties, which may cause results to differ materially from those
set forth in these statements. Such risks and uncertainties include, but are not
limited to, political, economic and regulatory developments in Russia and our
ability to successfully merge TeleRoss and Sovintel. Additional information
concerning factors that could cause results to differ materially from those in the
forward looking statements is contained in the Company's filings with the U.S.
Securities and Exchange Commission including the Company's quarterly report
on Form 10-Q for the quarter ended September 30, 2002 and the Company's
annual report on Form 10-K for the year ended December 31, 2002.
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Golden Telecom Inc.
Altimo, a leading private equity group, operating on some of the world's most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (Golden Telecom, Inc., Turkcell Iletisim Hizmetleri A.S., Kyivstar GSM, MegaFon, VimpelCom, Sky Mobile). Those assets are in Russia , the CIS and other promising emerging markets.
Golden Telecom Inc. is a leading independent fixed-line communications operator in Russia. The company provides, via its own infrastructure, complex telecommunications and internet services in Russia and several CIS countries. Listed on US NASDAQ. In Q1 2008, VimpelCom acquired 100% of the oustanding share capital of Golden Telecom.
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