AS EESTI TELEKOM

ANNOUNCEMENT

04.10.99

 

 

COMMENTS ON POSSIBLE FINANCIAL RESTRUCTURING

 

In response to information about possible changes in equity capital 

of Estonian Telecom Ltd distributed by media in previous week, we have 

to announce the following:

 

Resulting from high share of equity capital in total equity and 

liabilities of Estonian Telecom Ltd, management of the company is 

searching for the opportunities to optimise the structure of balance 

sheet. In considering the possibilities, the management will proceed 

from the Shareholders Agreement concluded between Estonian Telecom, 

Republic of Estonia, Sonera and Telia.

 

 

Raul Kalev  

PR-manager

Tel: +372 64 60 220

Fax: +372 63 11 224