OREANDA-NEWS. On 26 June 2008 Southern Telecommunications Company (“UTK”), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, announced that it has terminated its participation in CJSC “Armavirsky Zavod Svyazi” effective 20th June 2008, selling its 100%-stake in the share capital of CJSC “Armavirsky Zavod Svyazi”.

This decision was taken by the Board of Directors of "UTK" PJSC in the context of the Company’s Model of reorganization of its non-core businesses (Minutes № 26 of April 23, 2008).