Alexander Kiselev, the general director of Russia’s leading telco Svyazinvest, has told the local press that it expects to its revenues to grow by 6% this year to R231.9 billion (€6.69 billion). Its net profit is meanwhile likely to rise by 6% to R20.2 billion and EBITDA by 13% to R67.5 billion. Kiselev has also said that Svyazinvest plans to invest R13.4 billion on IT and new services this year. Svyazinvest lists the Russian Federal Property Fund and Federal Property Management Agency as its main shareholders, with a combined stake of 75% minus one share. Sistema-owned Comstar UTS acquired 25% of the telco for $1.3 billion (€977.3 million) in December 2006.