OREANDA-NEWS. On 18 July 2008 was announced, that OJSC VolgaTelecom (VT) acquired 40% of stock of Ulyanovsk’s mobile operator ZAO Ulyanovsk – GSM, thus increasing its equity stake in the company’s authorized capital to 100%. On July 14, 2008 appropriate entry on 40 ordinary shares transfer from OJSC SMARTS account to OJSC VolgaTelecom account was made in the register of the operator’s registered securities holders, the transferred stock making up 40% of ZAO Ulyanovsk-GSM authorized capital.

Increase in the stake in ZAO Ulyanovsk-GSM to 100% is one of development stages of OJSC VolgaTelecom cellular business which priorities are developing GSM-business as well as merging cellular assets into ZAO NSS.

In 2007 OJSC VolgaTelecom completed cellular business reorganization having affiliated 5 other subsidiary operators in which OJSC VolgaTelecom owned 100% equity stake, to Nizhny Novgorod mobile operator ZAO NSS. Ulyanovsk’s operator affiliation to ZAO NSS may follow as the next stage of the consolidation.