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Russia Svyazinvest board approves restructuring plan

MOSCOW, Oct 20 (Reuters) - Russia's Svyazinvest has approved combining seven regional fixed-line telecoms groups under long distance call operator Rostelecom ROS.NRTKM.MM.

Svyazinvest said in a Tuesday statement its board of directors had approved the reform, and a share appraisal, debt restructuring and other procedures related to the reorganisation would be carried out during 2010.

All legal actions are expected to be completed in May 2011, the company added. (Reporting by Anastasia Teterevleva and Maria Kiselyova, Editing by John Bowker)

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