The Russian telco Rostelecom has invested $20.4 million (€14.7 million) in Golden Telecom. In doing so, it has exercised its non-dilution rights under an existing shareholder agreement in relation to Golden Telecom’s recent acquisition of a majority stake in Corbina Telecom. All three are key companies in the telecom sector, Rostelecom being Russia’s leading fixed-line provider and Golden/Corbina’s interests including a FTTH operation. Separately, Rostelecom has announced that its net profit in 2006 amounted to R1.456 billion (€41.47 million) in 2006, or 48.9% more than a year earlier. Its consolidated revenues were meanwhile up by 50.3% to R61.559 billion.