OREANDA-NEWS. Rostelecom PJSC, Russia's national telecommunications operator, announces today that it has completed the buyback of the remaining ordinary shares from PJSC Bashinformsvyaz's shareholders in accordance with Article 84.8 of the Russian Federation's law on Joint Stock Companies.

The share buyback completes the consolidation of 100% of Bashinformsvyaz's ordinary shares. Rostelecom has spent a total of RUB 2.4 billion on both the voluntary buy back (1st stage) and the mandatory squeeze out procedure (2nd stage).

The full consolidation of Bashinformsvyaz's ordinary shares will enable Rostelecom to have a greater degree of corporate control, while helping to speed up the operational integration of the companies.