Golden Telecom acquires 51% stake in Corbina Telecom

Wednesday 30 May 2007 | 12:59 CET | News
Russian communications operator Golden Telecom has acquired a 51 percent stake in ZAO Cortec and its subsidiaries Corbina Telecom. Golden Telecom received a 51 percent ownership in Corbina Telecom in exchange for 8 percent of Golden Telecom's common stock on a post-acquisition basis plus USD 10 million in cash. The remaining 49 percent of Corbina Telecom is controlled by Inure Enterprises. Golden Telecom plans to roll out FTTB networks in the top 65 cities of Russia in order to enable broadband access and provide triple-play services. Golden Telecom has agreed to complete an initial public

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Categories: Fixed
Companies: Golden Telecom
Countries: Russian Federation
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