OREANDA-NEWS. October 1, 2009. Extraordinary meeting of ZAO NCC shareholders passed the resolution to reorganize ZAO NCC in the form of takeover of ZAO Ulyanovsk-GSM to it and to approve the Agreement of takeover. In addition the meeting passed a number of resolutions within the framework of takeover procedure: the resolution of increase in ZAO NCC authorized capital through the issue of additional ordinary registered uncertified shares, of introducing modifications and amendments in ZAO NCC Charter and Regulations for the Board of directors of ZAO NCC.

This decision will allow for proceeding to realization of further corporate procedures of takeover process provided for by legislation in effect and the Companies’ Charters. ZAO NCC is planning to complete legal procedure of takeover in December 2009.

Ulyanovsk-GSM is an effective asset both from financial and commercial point of view. This company equally competes with “The Big Three” operators due to successful technical development and the efforts of professional and competent personnel, says Mikhail Petrov – ZAO NCC General Director, Ulyanovsk-GSM pursues marketing and technical policies agreed with us. In particular, for than 3 years the Company has been successfully promoting tariff plans under our ONTM in the market of Ulyanovsk oblast.

The major objective of the takeover is to provide the Company with additional resources and opportunities for further growth and technical development, - adds Mikhail Petrov.