Shareholders Liquidate Ukraine's DCC, Complete its Merger into Astelit"

KIEV, Aug 14 (Prime-Tass) -- The shareholder of the Ukrainian mobile operator Digital Cellular Communications, or DCC, have ruled to liquidate the company thus completing its merger into its sister company, Astelit, DCC said Monday.

The decision to liquidate the company was taken by its shareholder on August 1, DCC said.

Both DCC and Astelit are owned by the Netherlands-based Eurasia Telecommunication Holdings, which is jointly controlled by Turkey's mobile operator Turkcell and Ukraine's diversified holding System Capital Management.

In April Eurasia's extraordinary meeting ruled to merge DCC into Astelit, according to the company's earlier reports.

Turkcell has raised its stake in Eurasia Telecommunication Holdings from 54.2% to 54.8%, Astelit said earlier on Monday.

System Capital Management, or SKM, holds a 45.2% stake in Eurasia Telecommunication Holdings, Astelit said.

Astelit's subscriber base stood at 15.5 million users as of July 31 bringing the company's market share to 11.5%, according to a report released by Advanced Communications & Media (AC&M) research and analysis agency earlier in August.

End"

Posted to the site on 14th August 2006