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COMSTAR BUYS 75 PCT OF ARMENIAN TELECOMMUNICATIONS GROUPS CALLNET, CORNET
Hemscott, UK
Oct 30 2006
LONDON (AFX) - Comstar United TeleSystems, which provides
telecommunication services in Russia and the Commonwealth of
Independent States (CIS), said it has bought 75 pct of CallNet and
its subsidiary Cornet in the Republic of Armenia.
'This is the first transaction in a pipeline of new acquisitions which
we announced in October 2006 to make use of IPO proceeds in order to
implement our investment programme in the regions,' said Eric Franke,
CEO of Comstar.
CallNet and Cornet together comprise the second largest alternative
telecommunications group in the Republic of Armenia. Cornet services
76 pct of the banking sector in Armenia.
Financial details of the acquisition were not disclosed. Comstar has
an option to buy out the remaining shares in CallNet.
http://www.hemscott.com/news/latest-news /item.do?newsId=37142877208879
From: Emil Lazarian | Ararat NewsPress
Hemscott, UK
Oct 30 2006
LONDON (AFX) - Comstar United TeleSystems, which provides
telecommunication services in Russia and the Commonwealth of
Independent States (CIS), said it has bought 75 pct of CallNet and
its subsidiary Cornet in the Republic of Armenia.
'This is the first transaction in a pipeline of new acquisitions which
we announced in October 2006 to make use of IPO proceeds in order to
implement our investment programme in the regions,' said Eric Franke,
CEO of Comstar.
CallNet and Cornet together comprise the second largest alternative
telecommunications group in the Republic of Armenia. Cornet services
76 pct of the banking sector in Armenia.
Financial details of the acquisition were not disclosed. Comstar has
an option to buy out the remaining shares in CallNet.
http://www.hemscott.com/news/latest-news /item.do?newsId=37142877208879
From: Emil Lazarian | Ararat NewsPress