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ROSTELECOM PJSC: Rostelecom to start co-investing with the Russian Internet Initiatives Development Fund

ROSTELECOM PJSC (RKMD) 
ROSTELECOM PJSC: Rostelecom to start co-investing with the Russian Internet 
Initiatives Development Fund 
 
21-Jan-2020 / 11:59 MSK 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
   Rostelecom to start co-investing with the Russian Internet Initiatives 
                              Development Fund 
 
      Moscow, Russia - January 21, 2020 - Rostelecom PJSC (MOEX - RTS: RTKM, 
       RTKMP; OTCQX: ROSYY), Russia's largest digital communication services 
          provider, and the Internet Initiatives Development Fund (IIDF) are 
       establishing a strategic partnership, launched to develop the Russian 
venture capital market. Rostelecom will collaborate with IIDF by joining the 
 Fund's Investment Division charter capital "IIDF Invest" - a shareholder in 
    more than 350 IT start-ups. Rostelecom investments will boost the fund's 
             portfolio and help provide financing for new Russian start-ups. 
 
        Rostelecom's investment in IIDF Invest will amount to RUB 2 billion, 
representing a 31.03% share in the Fund's charter capital in total, with the 
    first 18.36% secured in December 2019 and the remaining investment being 
  finalised by the end of January 2020. Rostelecom representatives will join 
                                       the investment committee of the fund. 
 
      IIDF Invest will use the investment proceeds to support new innovation 
        projects and provide additional support to the fund's most promising 
     existing projects. The investment offer for start-ups will be reviewed, 
 whereby pre-seed stage companies will get up to Rub 5 million of financing, 
  while growth stage companies will be able to receive up to RUB 65 million. 
 
 Mikhail Oseevskiy, President of Rostelecom, commented: "Rostelecom has made 
 great progress in transforming into a leading provider of digital services. 
          From a growth perspective, I am pleased to see a stronger focus on 
   innovative business streams, such as data centres, cloud, cyber security, 
 smart cities, IoT to name but a few. The strategic partnership with IIDF is 
aimed at enhancing efficiencies in this area, identifying new growth drivers 
    and expanding the ecosystem of digital services. These drivers might not 
always be obvious given the increasing speed of technological developments - 
    somewhat ambitious ideas today, they can conquer markets and geographies 
                                                                  tomorrow." 
 
     Kirill Varlamov, President of IIDF and IIDF Invest, commented: "IIDF is 
          always looking for new sources of financing to support its various 
  investment streams. Our partnership with Rostelecom opens a new chapter in 
    IIDF's evolution as we will be reconsidering the investment cycle with a 
   full commitment to supporting promising IT start-ups and growth companies 
          and providing the entrepreneurs with access to Rostelecom's unique 
                                                                 expertise." 
 
                                         Further information is available at 
                         https://www.company.rt.ru/en/ir/news_calendar/ [1]. 
 
                                   * * * 
 
The Internet Initiatives Development Fund [2] (IIDF) is a Russian venture 
capital fund established by the Agency for Strategic Initiatives in 2013 by 
order of Russian President Vladimir Putin. The Foundation invests in 
technology companies in the early stages of development, develops a network 
of start-up accelerators, and is involved in the development of methods of 
legal regulation of the venture industry. 
 
IIDF Invest invests in technology start-ups that are in their early stages. 
Since 2013, IIDF Invest has invested RUB 3.87 billion in more than 420 
companies. Currently, there are 350 operating businesses in the portfolio, 
of which about 50 are developing successfully both in Russia and 
internationally. 
 
                                   * * * 
 
   PJSC Rostelecom [3] is the largest digital service provider, operating in 
 all segments of the telecommunications market in Russia, it serves millions 
        of households, the state and private enterprises across the country. 
 
       Rostelecom is Russia's undisputed market leader, providing high-speed 
 Internet access to over 13.1 million users and pay-TV services to more than 
           10.3 million clients, over 5.5 million of which are subscribed to 
                             Rostelecom's IPTV services on a national level. 
 
        In the nine months of 2019, the Group generated RUB 242.6 billion of 
 revenues, RUB 81.4 billion of OIBDA (33.6% of revenue) and RUB 16.4 billion 
                                                              of net income. 
 
         The Group is the leading provider of telecommunications services to 
                             government bodies and corporates of all levels. 
 
      Rostelecom is a key strategic innovator that provides solutions in the 
       following fields: E-Government, cybersecurity, data-centers and cloud 
  computing, biometry, healthcare, education and housing & utility services. 
 
   The Group's stable financial position is confirmed by its credit ratings. 
  Rostelecom has been assigned 'BBB-' and 'BB+' international credit ratings 
      by Fitch Ratings and Standard&Poor's respectively, and AA(RU) by ACRA. 
 
                                   * * * 
 
     Certain statements in this press release are forward-looking statements 
   within the meaning of the U.S. federal securities laws and intended to be 
                               covered by the safe harbours created thereby. 
 
           Those forward-looking statements include, but are not limited to: 
 
         - Assessment of PAO Rostelecom's (the Company) future operating and 
  financial results as well as forecasts of the present value of future cash 
                                                  flows and related factors; 
 
      - The Company's plans to take ownership stakes in other organisations; 
 
 - the Company's anticipated capital expenditures and plans to construct and 
                                                      modernize its network; 
 
   - the Company's expectations as to the growth in demand for its services, 
      plans relating to the expansion of the range of its services and their 
                                                                    pricing; 
 
    - the Company's plans with respect to improving its corporate governance 
                                                                  practices; 
 
   - the Company's expectations as to its position in the telecommunications 
 market and forecasts on the development of the market segments within which 
                                                       the Company operates; 
 
                                     - economic outlook and industry trends; 
 
            - the Company's expectations as to the regulation of the Russian 
          telecommunications industry and assessment of impact of regulatory 
                                      initiatives on the Company's activity; 
 
         - other statements regarding matters that are not historical facts. 
 
     Such forward-looking statements are subject to risks, uncertainties and 
   other factors, which could cause actual results to differ materially from 
those expressed or implied by these forward-looking statements. These risks, 
                                    uncertainties and other factors include: 
 
 - risks relating to changes in political, economic and social conditions in 
                    Russia as well as changes in global economic conditions; 
 
 - risks relating to Russian legislation, regulation and taxation, including 
              laws, regulations, decrees and decisions governing the Russian 
    telecommunications industry, securities industry as well as currency and 
           exchange controls relating to Russian entities and their official 
                                        interpretation by regulatory bodies; 
 
           - risks relating to the Company, including the achievement of the 
  anticipated results, levels of profitability and growth, ability to create 
  and meet demand for the Company's services including their promotions, and 
           the ability of the Company to remain competitive in a liberalized 
                                                  telecommunications market; 
 
? technological risks associated with the functioning and development of the 
 telecommunications infrastructure, technological innovations as well as the 
                                                convergence of technologies; 
 
? other risks and uncertainties. For a more detailed discussion of these and 
      other factors, see the Company's Annual Report and the Company's other 
                                                             public filings. 
 
        Many of these factors are beyond the Company's ability to control or 
  predict. Given these and other uncertainties, readers are cautioned not to 
     place undue reliance on any of the forward-looking statements contained 
       herein or otherwise. The Company does not undertake any obligation to 
   release publicly any revisions to these forward-looking statements (which 
 are made as of the date hereof) to reflect events or circumstances upon the 
     annual report publication or to reflect the occurrence of unanticipated 
                    events, except as may be required under applicable laws. 
 
ISIN:          US7785291078 
Category Code: MSCH 
TIDM:          RKMD 
LEI Code:      2534001D752JPNM0H170 
Sequence No.:  41656 
EQS News ID:   957575 
 
End of Announcement EQS News Service 
 
 

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January 21, 2020 03:59 ET (08:59 GMT)

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