OREANDA-NEWS. On October 20, 2008 Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, announced that it has terminated its participation in OJSC Telekinokompaniya IR, selling its 23.5%-stake in the share capital of OJSC Telekinokompaniya IR, reported the press-centre of UTK.

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.