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Rostelecom feels the strain

April 3, 2009 06.35 Europe/London By Chris Dziadul

Russia’s national telco Rostelecom has posted a mixed set of results for 2008.

While its revenues of R63.201 billion (€1.350 billion) and OIBDA of R14.318 billion were 1% and 19.7% respectively up on the previous year, its net profit was 25% lower at R7.072 billion.

Rostelecom, which is majority (51%) owned by the state-controlled holding company Svyazinvest, is a major provider of telecom services for Russia’s TV and radio broadcasters.

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Filed Under: Central & East Europe, Newsline Edited: 3 April 2009 06:35

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