OREANDA-NEWS. Svyazinvest (hereinafter, the Company) on June 20, 2013 held an extraordinary general shareholders meeting, which passed a resolution supporting the reorganization of Svyazinvest through a merger with Rostelecom on the terms and conditions set forth in the Merger Agreement. The AGM approved this Agreement and also the Transfer Act.

As a result of the merger of Svyazinvest/Rostelecom merger, the holding's common shares owned by the Russian Federation, will be converted into Rostelecom common shares in accordance with a certain ratio based on the data of an official appraisal to determine the market value of the Company's shares and the cost of Rostelecom shares. According to this appraiser, 14.0547520661157 authorized shares of Svyazinvest with a par value of RUR 1 each, are to be converted into 1 Rostelecom common share with a par value of RUR 0.0025 each.

The Svyazinvest/Rostelecom merger is the final measure in the corporate restructuring of state telecommunications assets, as a result of which the Russian Federation along with Vnesheconombank must retain control over the major operator after the merger of the aforementioned assets is complete in accordance with Presidential Decree No. 340 dated March 24, 2012.