Golden Telecom Inc. (GLDN:US), a Nasdaq-listed phone and Web services provider in the former Soviet Union, said it received access codes to provide long-distance services in Russia which has more than 140 million people.
Information Technology and Communications Minister Leonid Reiman on Dec. 15 signed off on codes for both domestic and international long-distance calls, the Moscow-based company said in a Market Wire statement today. The codes will allow Golden Telecom to fully use its Federal Transit Network it completed last January.
``Golden Telecom plans to capture at least a 20 percent market share of the total long-distance market in Russia by the end of 2010,'' the company's Chief Executive Officer Jean-Pierre Vandromme said in the statement. Golden Telecom estimates this market will reach between $3.5 billion and $4.5 billion by 2011.
Golden Telecom serves corporations, operators and consumers in Russia, Ukraine, Kazakhstan and Uzbekistan via leased channels and intercity fiber-optic and satellite-based networks.
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