Comstar United Telesystems, controlled by AFK Sistema, Russia's leading telecoms and services holding company, said earlier in the day it has acquired 25% plus one share in Svyazinvest, for $1.3 billion.
"In my opinion, the new partner will be more efficient," Leonid Reiman said. "The point is efficiency, rather than high or low activity."
"The new investor is a strategic partner interested in the development of the sector as a whole and of its infrastructure," he said.
Comstar board chairman Sergei Shchebetov said: "The purchase of a blocking stake in Svyazinvest is a strategic acquisition for Comstar UTS and for the whole Sistema Telecom group [a subsidiary of AFK Sistema established to manage the corporation's telecoms assets]."
He said the deal is in line with the company's strategy to take up leading positions on the fixed-line markets of Russia and some countries of the post-Soviet Commonwealth of Independent States, and to use the proceeds from its IPO for acquisitions, intended to boost the Comstar UTS share price.
Comstar held an IPO of 35% of its shares in October, raising about $1 billion.
Svyazinvest Director General Alexander Kiselyov, on his side, highlighted new business opportunities for the company resulting from the deal, in view of support from AFK Sistema.
"Svyazinvest's perspectives have become brighter," he said.
Svyazinvest combines seven large regional operators, including Uralsvyazinform [RTS: URSI] with 3.6 million subscribers, VolgaTelecom [RTS: NNSI] with 2.4 million subscribers, and Sibirtelecom [RTS: ENCO], with 1.5 million.
The Russian Federal Property Fund holds 25% minus two shares in Svyazinvest, and the Federal Property Management Agency holds 50% plus one share.
