Rostelecom acquires share in GLONASS, Kommersant informed. 

At the first stage the government is going to transfer 58.8% to Rostekh and 29.5% - to Roskosmos; 11.7% being held by the government. Then, Rostekh will keep 50% plus one stock, Roskosmos - 25% plus one stock; Rostelecom acquires 15% minus 3 stocks; 10% plus one stock being held by the government due to a stock issue in favor of Rostelecom. GLONASS will enter into the list of strategic companies. 

Rostelecom (TIN 7707049388) is a national com operator. It has 150ths km of lines in Russia. The current structure is in force from Apr. 2011 after the takeover of interregional com companies including TsentrTelecom, Sibirtelecom, Dalsvyaz, Uralsvyazinform, VolgaTelecom, SZT, YUTK and Dagsvyazinform. The length of the main com lines cover 500ths km. The securities are under trading on RTS/MICEX and OTCQX in USA.

The share capital is equal to 7.965mln rub. split in 2943258269 common and 242831469 preferred stocks of 0.0025 rub. par. The government is a major holder.

The 9-month 2015 net profit (IAS) dropped 32% to 10.274bn rub. from 15.147bn rub. prior year; revenues climbed down 2% to 216.336bn rub. from 220.007bn rub.; OIBDA declined 3% to 75.027bn rub. from 77.509bn rub.; operating profit - 9% to 29.329bn rub. from 32.382bn rub.

The 2015 net profit (RAS) declined 26% to 21.564bn rub. from 29.274bn rub. prior year; revenues dropped 2.4% to 283.169bn rub. from 290.205bn rub.; pretax profit - 28.5% to 25.59bn rub. from 35.809bn rub.; gross profit - 21% to 32.908bn rub. from 41.5bn rub