Telmos (merged)

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The company was created in 1993, as a joint-venture of AT&T (40%), AFK Systema's subsidiary MGTS (40%) and partially state-owned company Rostelekom (20%). The project involved a four-year investment program of US$ 200 million starting in 1994. When completed, the network was expected to support more than 400,000 new subscribers. As of 1994, Telmos had 10,000 customers. Telmos signed a supply agreement with Lucent Technologies worth US$ 25 million in 1996. Telmos operates a digital overlay network, fully integrated into the MGTS network. It provides local services in Moscow's area. By the end of 1998, Telmos had 50,000 subscribers. In 2000, Rostelekom acquired AT&T's participation in Telmos for US$ 17 million. In September 2001 Rostelecom sold it’s 40% share in Telmos to AFK Systema. The price of the deal was not disclosed. In 2003 AFK Sistema and Moscow City Telephone Network (MGTS) shareholders made the decision to unite the three alternative fixed-line operators - ZAO Comstar, MTU-Inform and Telmos companies under the brand name Comstar-United TeleSystems with a Comstar being a central in consolidation. The consolidation was completed in May 2004.