22 Apr 2010 17:06

AFK Sistema mulls merging Sitronics, RTI Systems

MOSCOW. April 22 (Interfax) - AFK Sistema is considering possibly merging its high-tech assets OJSC Sitronics and OJSC RTI Systems.

"It is being discussed," Sitronics Presient Sergei Aslanyan told reporters.

Appraising the advisability of such a move is for the shareholders, Aslanyan said, refraining from giving a timeframe for any decision.

Sitronics likes the idea of merging with RTI Systems. "We see a huge amount of synergy in this," Aslanyan said. "We will fight in every way possible to see that it happens."

Head of corporate communications at AFK Sistema Irina Potekhina said a possible merger of the technology subsidiaries is being considered, but nothing has been decided.

Sitronics is not talking with electronics outfit Angstrem about a unification, Aslanyan said. "We don't see a comparable value in merging," he said. The idea of merging the two microelectronics producers had been mooted earlier by the Industry and Trade Ministry.

Sitronics and RTI Systems are part of the business entity High Technology and Industry Systems.