Russia telecom firm Svyazinvest's CEO resigns

MOSCOW, RUSSIA: The head of Russia's state-run telecoms holding Svyazinvest has resigned following divisions with the management of its affiliate Rostelecom, Komersant business daily said on Friday, citing sources.

Having served as Svyazinvest CEO since early 2009, Evgeniy Yurchenko is leaving the holding which plans to merge its Rostelecom affiliate with regional mobile operators and carry out an IPO of the united company in London in 2011.

Kommersant, citing two unnamed sources close to Svyazinvest's board, reported that Yurchenko had said in the resignation letter he was stepping down because of "principal disagreement with Rostelecom managers on the development strategy of the united company".

The head of Svyazinvest press office confirmed the resignation to Kommersant without providing further details. Svyazinvest was not immediately available for comment when contacted by Reuters.