Moskovskaya gorodskaya telefonnaya set' OAO Announces Reorganization of Subsidiary-Interfax

Wednesday, 10 Jul 2013 08:07am EDT 

Interfax reported that a wholly owned subsidiary of Moskovskaya gorodskaya telefonnaya set' OAO (MGTS), MGTS-Nedvizhimost' ZAO has decided on its reorganization via spinning off two subsidiaries, Biznes-Nedvizhimost' ZAO and Orbita ZAO. MGTS-Nedvizhimost' ZAO was formed in June 2012 and received on its balance real estate of MGTS. The operator owns 311 properties in Moscow with a total area of approximately 1,000,000 square meters. According to Mr. Dmitry Solodovnikov, a representative of MGTS' main shareholder, Biznes-Nedvizhimost' ZAO will receive 76 properties. Orbita ZAO will develop the recreational property complex of MGTS Orbita pension. 

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