OREANDA-NEWS. November 03, 2009. Far East Telecom has become the only shareholder of OJSC Sakhatelecom.

Amendments have been made to OJSC Sakhatelecom register of shareholders to certify that 49% of shares of Yakutia telecommunications provider have been transferred to OJSC Far East Telecom. At the conclusion of auction held on October 20th 2009 Sales and Purchase Contract have been signed for 49% of OJSC Sakhatelecom shares capital. The transaction value was 1,317,750 thousand Roubles. Note that Far East Telecom has owned 51% share capital of OJSC Sakhatelecom since 2007.

Andrey Balatsenko, OJSC Far East Telecom General Director[H1] : “All the OJSC Sakhatelecom management trends will be maintained, first of all, economic efficiency ratio growth and regional telecommunications infrastructure development for providing the most remote localities with high-technology service. As to the social policy, we will put our efforts to stay the best employer in the area".

OJSC Sakhatelecom is a leader in Sakha Republic (Yakutia) telecommunications industry. The company provides local and intrazone telecommunication services, Internet access and IP TV services. OJSC Sakhatelecom revenues for nine months of 2009 (according to RAS) was 2,468 mln Roubles, net profit reached 569 mln Roubles, and EBITDA was 874 mln Roubles.