Svyazinvest Intends To Attract $4.5Bn From Foreign Markets

The Russian Svyazinvest holding company plans to attract $4.5 billion from foreign markets by means of a reorganization, Yelena Sidorovich, director of the Svyazinvest Department of Securities, said at a conference devoted to operations by the Artelekom company and the Elektrosvyaz company of the Republic of Karelia in Arkhangelsk today. According to her, this sum includes both the price of the second block of shares in the holding company to be sold and revenues received from ADR issue by companies of Svyazinvest. Svyazinvest also plans to receive about $200 million a year in additional revenues from the local market after the reorganization.