MOSCOW, December 11 (RIA Novosti) - Svyazinvest's net profit, calculated to Russian Accounting Standards, was 18.9 billion rubles ($707 million) over the first nine months of 2006, a 16.5% plunge year-on-year, the Russian telecoms holding said Monday.
Earnings grew 3.1% compared to January-September 2005, to 158.3 billion ($5.9 billion).
Svyazinvest combines seven large regional operators, including Uralsvyazinform (RTS: URSI and 3.6 million subscribers), VolgaTelecom (RTS: NNSI and 2.4 million subscribers) and Sibirtelecom (RTS: ENCO and 1.5 million subscribers).
The holding also controls Rostelecom, Russia's largest long-distance telecom services provider (RTS: RTKM), and has a minority interest (23.3%) in Moscow City Telephone Network (RTS: MGTS).
The Russian Federal Property Fund holds 25% minus two shares in Svyazinvest, and the Federal Property Management Agency holds 50% plus one share. The remaining block is held by Cyprus-based Mustcom Ltd.
