OREANDA-NEWS. In compliance with the Model for Reorganization of the Subsidiary Business of the Company, approved by the Board of Directors of OJSC N.W.Telecom, North-West Telecom has carried out a reorganization of CJSC IK Svyaz in the framework of uniform assets merger and optimization of the number of subsidiaries.

On 19th April 2007 the procedure of reorganization of CJSC IK Svyaz in the form of affiliation with CJSC AMT was completed. The decision of OJSC North-West Telecom – the only  shareholder of CJSC IK Svyaz - No. 01-06 of 27.07.2006 (minutes of the meeting of the Board of Directors of OJSC N.W.Telecom No. 19-01/22 (06) of 27.07.2006) was the ground for the reorganization.

The merger of the subsidiaries will make it possible for OJSC N.W.Telecom to cut down the costs of uniform assets management and to enhance the efficiency of subsidiary business management. 

The key goal of the Model for Reorganization of the Subsidiary Business of OJSC North-West Telecom is to retain and further develop the participation of OJSC North-West Telecom in strategic specialized companies, whose field of activities coincides with the Company's development strategy, to liquidate investments that are no longer topical and to create conditions for a more efficient investment portfolio management.