OREANDA-NEWS. On 20 May 2008 was announced, that Sibirtelecom became the 100% owner of Novocom (ZAO) by buying out the remaining 50% in the operator’s charter capital. Sibirtelecom will be carrying out the main provisions of its 2008 marketing plan on the basis of market segmentation.

After conducting an analysis of the Siberian telecommunications market, and user needs for telecom services, the management of the company adopted a decision to consolidate the assets of its existing subsidiaries.  “Such a decision was dictated by the need to form a uniform set of business processes which enable subscribers to make use of various bundled service options.  We examined a number of different consolidation possibilities in order to restructure our subsidiary assets.  100% participation in the charter capital of Novocom will allow Sibirtelecom to increase the subscriber base of Internet services and raise asset manageability.  The plan is to consolidate a number of other small subsidiaries in which we own majority stakes”, said Alexander Isaev, general director of Sibirtelecom.

Novocom was incorporated on August 29, 1996 and the company’s main form of activity is providing local telephone services, datacom and telematic solutions to corporate clients.  Earlier, Sibirtelecom had a 50% stake in the charter capital of Novocom and the company has held this equity position since 2000.  50% of Novocom’s shares are owned by Irish financial investment company Oakral Ltd.