Key Stages of the Reorganization

First stage

Second stage

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As part of reorganization process almost all vital stages were passed: consolidation of SkyLink, Svyazinvest additional share issue, setting the buyout prices, EGM approval of the merger, obligatory buyback, issue of additional ordinary shares in Rostelecom.

The second stage of the reorganisation process is expected to be completed in October 2013 when Svyazinvest will be excluded from the list of legal entities as a result of merging with Rostelecom.