The main shareholder of AFK Sistema, Vladimir Yevtushenkov has told WPS in an interview that the company’s strategy entails acquiring rather than selling assets. Yevtushenkov maintained that selling assets and accumulating money would be a wrong strategy in the current environment. In his view, given the current economic crisis it is more prudent to get rid of cash and invest in assets, and this is exactly what AFK Sistema is planning to do, said Yevtushenkov. It is still not looking at foraying into any new sectors, but Yevtushenkov did not rule out expanding the company’s asset portfolio in market segments where it is already present. Yevtushenkov refused to name any specific assets or countries that AFK Sistema may be interested in. A source from a leading investment bank told WPS that AFK Sistema is eyeing companies in the areas such as the telecommunications markets of Central and Eastern Europe. An executive source from an AFK Sistema subsidiary said that the only European telecommunications asset that AFK Sistema might acquire is Telekom Austria AG. But AFK Sistema spokeswoman Irina Potekhina said this week that acquiring Telekom Austria was not on the agenda currently.

Telekom Austria AG - Conference Presentation Calls

Telekom Austria AG announced that they will report first half, 2010 results on August 18, 2010.