Belsvyaz (merged with CenterTelecom)

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Belsvyaz is the leading regional telecom operator in the Belgorod oblast in Central Russia with a population of 1.5 million. The company provides basic local telephone services. It also provides national and international services through Rostelecom. Company provides wide range of traditional and modern telecom services: local and long distance communications, paging, Internet, data transmission services, telematics. In 1993 Russian local telecommunications network operators were partially privatized and Belsvyaz was established in April 1994. In 1995, Svyazinvest, a holding company which consolidated the government stakes in all of the 85 regional telecommunication companies, was created. After the formation of Svyazinvest it held 38% of the common stock, and 51% of the voting rights in Belsvyaz. The second biggest shareholder after Svyazinvest was Bank Credit Suisse First Boston (18.65 percent) in 2000. The remaining stake was mainly owned by employees and individual investors. The total equity valuation of the company was US$49.5 million in 1996. As a result of Svyazinvest’s consolidation Belsvyaz became a branch of the mega-regional company JSC Central Telecommunication Company in November 2002. In the course of the telecommunications industry restructuring during 2000-2002 Svyazinvest created seven large telecom companies in Russia's macro-regions by consolidating 74 local operators. As a result of reorganization, the property and personnel of regional operators was transferred to corresponding regional branches: Center Telecom, North-West Telecom, Volga Telecom, South Telecom, Uralsvyazinform, Siberia Telecom and Far East Telecom (Dalsvyaz). JSC CenterTelecom (earlier known as AO Electrosvyaz Moscow ) became the base company in the process of consolidation of 16 regional providers in central Russia. The companies that were removed from the state register and renamed into branches of JSC "CenterTelecom" were: Belsvyaz, Bryansksvyazinform, Voronezhsvyazinform, Ivtelecom, Lipetskelectrosvyaz, Smolensksvyazinform, Tambov Elektrosvyaz, Tulatelecom, Vladimir Region Elektrosvyaz, Kaluga Region Elektrosvyaz, Kostroma Region Elektrosvyaz, Kursk Region Elektrosvyaz, Oryol Region Elektrosvyaz, Ryazan Region Elektrosvyaz, Tver Region Elektrosvyaz, and Yartelecom. Starting from 2003 became a branch of Center Telecom. Clarify percent private after 1997 when Svyazinvest was privatized.