On the September 28, 1993 Rostelekom officially registered as an open joint stock company. Rostelekom is the part of the Russian Ministry of Communications that represents the state in all dealing with third parties in the areas of television broadcasting and inter-city telecommunication services. It was previously an organisation called Intertelekom which covered much of the former Soviet Union. Now that it is an open joint stock company, anyone will be free to buy shares in the new entity and a percentage is likely to be offered for sale to holders of privatisation vouchers. For three years the Russian government will hold a majority stake in the company through the State Committee for Property Management, which in turn will probably delegate the role to the Ministry of Communications. According to the Scientific Secretary at Rostelekom, Vladimir Osipov, there are already several large domestic and foreign investors in the company. The move is effectively the first stage in the privatisation of television broadcasting and inter-city telecommunications services in Russia, but in the short term it is unlikely to make much difference to the mechanics involved in organising joint telecommunications joint ventures in Russia. Many western companies already have contracts with Rostelekom. Most complain that their greatest problem is the necessity to negotiate separate contracts at regional level as the power of the Moscow-based Russian Ministry of Communication declines.
