OREANDA-NEWS. June 29, 2010. OJSC VolgaTelecom announced completion of the acquisition of 98.19% shares of Teleset Networks PCL (Company) pursuant to the offer made to the shareholders.

Under the Offer shareholders of Teleset Networks PCL were offered to sell their shares at the price of USD 0.8473 per share, valuing 100% share capital of the Company at USD 133.5 million.

Holders of remaining 1.81% shares of Teleset Networks PCL have the right to accept the Offer on the same terms till September 27, 2010. If upon the expiry of this period the Offer is accepted by less than 100% of the Company’s shareholders OJSC VolgaTelecom intends to compulsorily acquire the remaining shares under the Cyprus Companies Law.

It was announced earlier that OJSC VolgaTelecom intended to delist Teleset Networks PCL shares from the AIM market of the London Stock Exchange.