Open Joint Stock Co Long Distance & Internat Comm Rostelecom · 6-K · For 12/2/02

Filed On 12/2/02 12:22pm ET   ·   SEC File 1-14748   ·   Accession Number 950127-2-1188

Report of a Foreign Private Issuer   ·   Form 6-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 6-K         Report of Foreign Private Issuer                       7     22K 

6-K
1st Page of 7
TOC
Top
Previous
Next
Bottom
Just 1st
 
Sponsored Ads...


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
______________________

FORM 6-K

REPORT of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the
 Securities Exchange Act of 1934

Date: December 2, 2002

Commission file number 1-14748

 OPEN JOINT STOCK COMPANY OF
 LONG DISTANCE AND INTERNATIONAL
 TELECOMMUNICATIONS ROSTELECOM
Doing Business as Rostelecom
 (Translation of registrant's name into English)

THE RUSSIAN FEDERATION
(Jurisdiction of organization)

14 1ST TVERSKAYA-YAMSKAYA STR.
 125047 MOSCOW, RUSSIA
(Address of principal executive offices)

 Registrant's telephone number, international: +7 095 973 9940

          Indicate  by check  mark  whether  the  registrant  files or will file
annual reports under cover Form 20-F or Form 40-F.                              

         Form 20-F   X             Form 40-F
                          ---                        ---

          Indicate  by check mark  whether  the  registrant  by  furnishing  the
information contained in this Form is also thereby furnishing the information to
the Commission  pursuant to Rule 12g3-2(b) under the Securities  Exchange Act of
1934.                                                                           

            Yes                      No    X
                     ---                   ---

          If "Yes" is marked,  indicate  below the file  number  assigned to the
registrant in connection with Rule 12g3-2(b): 82-                               
                            ----------

6-K
2nd Page of 7
TOC
1st
Previous
Next
Bottom
Just 2nd

          On October 16,  2002,  Open Joint Stock  Company of Long  Distance and
International   Telecommunications  Rostelecom  (the  "Company")  announced  its
acquisition  of the 50% equity  interest in Westelcom it did not  previously own
from RTDC Holding.  A copy of the press release  announcing  the  acquisition is
attached hereto as Exhibit 1.                                                   

          On November 25, 2002, the Company announced that in early October, the
installation of the fiber-optic transmission line "Russia-Azerbaijan"  commenced
on the  territory of the  Rostelecom  Southern  Branch.  A Company press release
announcing the  installation  of the fiber-optic  transmission  line is attached
hereto as Exhibit 2.                                                            

6-K
3rd Page of 7
TOC
1st
Previous
Next
Bottom
Just 3rd

 SIGNATURE

          Pursuant to the  requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.                                         

Date:    December 2, 2002                By:    /s/ Vladimir I. Androsik        
                                              ----------------------------------
                                      Name: Vladimir I. Androsik
                                           Title:  Deputy General Director
...............................                       Finance Director          

6-K
4th Page of 7
TOC
1st
Previous
Next
Bottom
Just 4th

 EXHIBIT INDEX

The following exhibit has been filed as part of this Form 6-K:                  

Exhibit Number                    Description                                   
--------------                    -----------                                   

1.                                English   translation   of  the   press-      
                                  release   announcing the Company's acquisition
                                of  the  remaining  50%  stake  in Westelcom
     from RTDC Holding

2.                                English translation of the press release      
                      announcing the commencement of the
                             installation of the Company's fiber-optic
                          transmission line 'Russia-Azerbaijan'.

6-K
5th Page of 7
TOC
1st
Previous
Next
Bottom
Just 5th

                                                                       Exhibit 1

PRESS RELEASE                                        [OBJECT OMITTED] ROSTELECOM
--------------------------------------------------------------------------------

Moscow, October 16, 2002: Rostelecom acquires 50% stake in Westelcom from RTDC  

On October 9, 2002 Rostelecom completed the acquisition of 50% stake in         
Westelcom from RTDC holding,  thus  increasing its share in the company to 100%.
The value of the transaction is USD 15 million.                                 

As a result of the acquisition  Rostelecom gains full control over strategically
important  assets, including  international  switching  centers in Moscow and   
St. Petersburg as well as participation in international cable systems.         

Westelcom  was  founded  in 1992 by  Rostelecom  and US West for the  purpose of
executing  joint  investments  into a  number  of  telecom  projects.  Initially
Rostelecom and US West each invested USD 17.4 million in the company,  getting a
50%  stake  each.  Later US West's  stake  was  purchased  by RTDC  holding.  In
addition, during almost 10 years of its existence Westelcom rendered services to
Rostelecom on average in the amount of USD 14 million per year.                 

Today  Westelcom is an actual owner of three out of 11  international  switching
centers that form the basis of Rostelecom's international trunk network.        

Westelcom  also owns the Russian part of the  international  digital  trunk line
"Novorossiysk - Sochi - Poti" - the only  fiber-optic  line that connects Russia
and  Georgia.  In  addition,  9% of  capacity in the Black Sea Fiber Optic Cable
System  (Russia-Ukraine-Bulgaria)  belongs to Westelcom. Over USD 20 million has
been invested in these projects by Westelcom.                                   

The  above-mentioned  assets are  historically  an integral part of Rostelecom's
international trunk network. Prior to the acquisition the Company had to pay for
the  possibility  of using  them.  As a result  of this  transaction  Rostelecom
acquired full control,  which should result in significant  cost savings for the
Company.                                                                        

Rostelecom  indicated its interest in international  telecom assets of Westelcom
already in spring 2002 when its  daughter  company  RTC-Leasing  acquired 95% in
RTDC   holding.   We   successfully   continue  to  implement  our  strategy  of
consolidating core assets and concentrating value in Rostelecom. The acquisition
of Westelcom is an important  step towards  reaching this goal.  Moreover,  full
control over  Westelcom's  assets will result in lower ILD traffic  transit cost
for  Rostelecom  thus  strengthening  our  competitive  position  in the Russian
telecommunications  market,  said  Sergei  I.  Kuznetsov,  General  Director  of
Rostelecom.                                                                     

--------------------------------------------------------------------------------

-5- 

6-K
6th Page of 7
TOC
1st
Previous
Next
Bottom
Just 6th

     Certain statements in this press-release are  "forward-looking  statements"
within the meaning of the U.S.  federal  securities  laws and are intended to be
covered by the safe harbors created thereby.                                    

     These  forward-looking  statements are subject to risks,  uncertainties and
other factors,  which could cause actual results to differ materially from those
expressed or implied by thse forward-looking statements.                        

     These  risks  include  the risk of changes  the  Company's  operations  and
business prospects,  the general financial and economic circumstances,  relating
to  regulation  of the  Russian  telecommunications  industry  and  the  Russian
legislation; the competition and other risks.                                   

     For a more detailed discussion of thse and other factors, see the Company's
Annual Report on Form 20-F for its most recently  completed  fiscal year and the
Company's other public filings with The U.S. Securities and Exchange Commission.
Many of these  factors are beyond the  Company's  ability to control or predict.
Given these and other  uncertainties,  the Company  cautions  not to place undue
reliance on any of the forward-looking statements contained herein or otherwise.

     The Company  does not  undertake  any  obligation  to release  publicly any
revisions to these forward-looking statements to reflect events or circumstances
after the date  hereof or to reflect the  occurrence  of  unanticipated  events,
except as maybe required under applicable the U.S. federal securities laws.     

--------------------------------------------------------------------------------
For further details please contact                                              

Dmitry Chukseyev                                      Anna Kareva               
Head of PR                                             Head of IR               
Tel.:+7 095 973 9973                                   Tel.:+7 095 973 9920     
Fax. +7 095 787 2850                                   Fax: +7 095 787 2850     
e-mail: chukseyev@hq.rt.ru                             e-mail: kareva@hq.rt.ru  
      ------------------                                     ---------------

-6- 

6-K
Last Page of 7
TOC
1st
Previous
Next
Bottom
Just 7th

                                                                       Exhibit 2

PRESS RELEASE                                        [OBJECT OMITTED] ROSTELECOM
--------------------------------------------------------------------------------

Moscow, 25 November 2002                                                        

Rostelecom commenced installation of
fiber-optic transmission line "Russia-Azerbaijan" 

In early  October  the  installation  of  fiber-optic  transmission  line (FOTL)
Russia-Azerbaijan  commenced on the territory of Rostelecom Southern branch. The
length of the Russian  portion (up to the border with  Azerbaijan)  is about 200
km.                                                                             

The  commissioning  of the new link will  materially  strengthen  the  Company's
competitive  position at the  international  telecommunications  service  market
since this would enable the company:                                            

     o    To gain direct access to Azerbaijan  and further on along the shortest
          route to CIS  countries  -- Georgia and Armenia and  countries  of the
Middle East;                                                
o    To meet the growing demand for traffic passage in this direction;
     o    To  achieve  substantial   cost-savings  due  to  abandonment  of  the
international links lease from the satellite operators;     
o    To improve the quality of telecommunications.                    

The  estimated  cost of  installation  of FOTL Russia --  Azerbaijan is equal to
137,6 million rubles (incl. VAT).                                               

Certain statements in this press-release are "forward-looking statements" within
the meaning of the U.S. federal securities laws and are intended to be covered  
by the safe harbors created thereby.                                            

These forward-looking statements are subject to risks, uncertainties and other  
factors, which could cause actual results to differ materially from those       
expressed or implied by these forward-looking statements.                       

These risks include the risk of changes the Company's operations and business   
prospects, the general financial and economic circumstances, relating to        
regulation of the Russian telecommunications industry and the Russian           
legislation; the competition and other risks.                                   

For a more detailed discussion of these and other factors, see the Company's    
Annual Report on Form 20_F for its most recently complete fiscal year and the   
Company's ability to control or predict. Given these and other uncertainties,   
the Company cautions not to place undue reliance on any of the forward-looking  
statements contained herein or otherwise.                                       

The Company does not undertake any obligation to release publicly and           
revisions to these forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events,     
except as maybe required under applicable the U.S. federal securities laws.     

Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This 6-K Filing		Date		First		Last			Other Filings
		10/9/02		5
		10/16/02		2		5
		11/25/02		2					6-K
Filed On / Filed As Of / For The Period Ended		12/2/02		1		3
Top									List All Filings