Svyazinvest

OJSC Svyazinvest (Russian: ОАО Связьинвест) was Russia's largest telecommunications holding company. Based in Moscow, it was founded according to Order №1297 of the Russian government on November 25, 1994, and was registered on September 18, 1995. It was an entirely state-owned company until some shares were privatized in the late 1990s. The company consolidated and managed the government's 51% stake in 85 of Russia's 87 regional and local telecom companies. In 2001-2003 Svyazinvest merged over 80 regional and local telecommunications companies to form seven mega-regional companies which operated alongside the long-distance operator Rostelecom.

American financier George Soros invested hundreds of millions of dollars in the company. He later called it "the worst investment he's ever made".

Following a governmental decision on the company's liquidation, its operation including brand and subsidiaries were fully incorporated to Rostelecom, the former long-distance telephony monopoly. In late September 2013, Rostelecom completed the final stage of its reorganization, under which the state-run telecom holding Svyazinvest and 20 other firms were integrated into Rostelecom. The government's combined common stake in the merged company amounted to 51.12% after the reorganization.