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Rostelecom Q3 net profit rises 8 pct yr/yr
November 21, 2012 / 7:07 AM / 5 years ago

Rostelecom Q3 net profit rises 8 pct yr/yr

MOSCOW, Nov 21 (Reuters) - Russian state-controlled telecoms operator Rostelecom said on Wednesday its third-quarter net profit rose 8 percent, year-on-year, to 9.9 billion roubles ($316 million).

The company also reported revenues at 77 billion roubles, an increase of 2 percent, while operating income before depreciation and amortisation fell 2 percent to 29.4 billion roubles.

Russian investigators on Tuesday searched the home of Rostelecom CEO Alexander Provotorov in a fraud investigation, which analysts said could herald a management shake-up at the former fixed-line monopoly over which well-connected officials have long vied for influence.

Rostelecom, aiming to raise its game in mobile, broadband and pay-TV to offset losses in core fixed-line business, is reportedly is talks with Sweden’s Tele2 over a possible merger of their Russian mobile assets. ($1 = 31.2995 Russian roubles) (Reporting by Maria Kiselyova; Editing by Douglas Busvine)

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