10. Investments in associates
Investments in associates as at 31 December 2013, 2012 and 2011 were as follows:
|Associate||Main activity||Voting share capital, %||2013 Carrying amount||2012 Carrying amount||2011 Carrying amount|
|OJSC KGTS||Communication services||37.29||383||234||206|
|CJSC Samara Telecom||Communication services||27.78||163||159||147|
|OJSC WestBalt Telecom||Communication services||38.00||131||131||127|
|CJSC IKC Express||Communication services||37.90||83||81||78|
|OJSC Vostoktelecom||Communication services||25.00||81||77||75|
|Total investments in associates||918||775||773|
Summarized financial information as at 31 December 2013, 2012 and 2013 and for the years then ended of the associates is presented below:
In 2013 the Group received dividends from its investments in equity accounted investees in the amount of 8 (2012: 5, 2011: 4).
All associated companies are incorporated in Russia.
There are no contingent liabilities relating to the Group's interest in the associates.
Summarized financial information for substantial associates as at 31 December 2013, 2012 and 2013 and for the years then ended is presented below:
|Associate||Year||Non–current assets||Current assets||Non–current liabilities||Current liabilities||Revenue||Net income/(loss)|
|CJSC Samara Telecom||2013||310||396||21||100||201||15|
|OJSC WestBalt Telecom||2013||128||253||–||36||150||(1)|
|CJSC IKC Express||2013||13||213||–||8||72||6|
Reconciliation of the summarised financial information presented to the carrying amount of the interest in associates:
|Summarised financial information||OJSC KGTS||CJSC Samara Telecom||OJSC WestBalt Telecom||CJSC IKC Express||OJSC Vostoktelecom|
|Net assets at December 31, 2013||1,027||585||345||218||325|
|Interest in associates, %||37,29||27,78||38||37,9||25|
|Carrying value at December 31, 2013||383||163||131||83||81|