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Belcel should restore Beltelecom's share

Author: Mikhail Doroshevich

09/10/2003

Council of Ministers has entrusted Ministry of Communications, Ministry of Economy and Ministry of Justice with a task to restore state owned Beltelecom's share in BelCel joint stock company by the 1st of January, 2004.

In 1991 Beltelecom's share of capital in Belcel was 50%. In 2002 Beltelecom's share had been reduced to 33%. Officials at Ministry of Communications explain that the decision had been made in order to attract more investments and therefore the terms of Belcel license agreement were changed.

At present omstrut International (Netherlands) holds 50% of Belcel, 17% belongs to Infobank (Trustbank) (Belarus) and Belltelecom's branches hold 33% (MGTS - 29,7% and Minskobltelecom - 3,3%).

At the same time Belarusian government is planning to increase governmental companies share of capital in Mobile Digital Communications (MDC) (Velcom trademark) statutory fund. At present Beltelecom holds a share of 31%, Beltechexport holds 20% and SB Telecom Ltd - 49% in MDC.

Useful links:

The Council of Ministers of the Republic of Belarus
Communications Ministry
Belcel
Velcom

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