Rostelecom considering entering 'new niches', holding talks with 20 companies - CEO

MOSCOW. March 22 (Interfax) - Rostelecom is considering entering new niches, and it is holding talks with 20 companies, with several deals possibly to be announced by summer, CEO Mikhail Oseevsky told Interfax.

Oseevsky spoke about Rostelecom's plans to enter the market with new products in new directions during a meeting of the State Duma's committee on information policy.

Oseevsky clarified to Interfax that talks were underway with about 20 companies, specifically regarding acquisitions, and, in some cases, about obtaining control. "Negotiations are underway, and everything has become rather intensified. I think that we will announce something by the summer," Rostelecom's CEO said.

Oseevsky did not specify what the companies were or in what areas they specialized, noting only that they were "very interesting".

"They are Russian industry companies, they are new external segments, and this is new income for us. The main part is developing what we have, though there are completely new directions. There are companies with hundreds of millions in past revenue," Oseevsky said.