ROSTELECOM BUYS 75% OF ARMENIAN OPERATOR GNC-ALFA FOR $22.5 MLN
Interfax
Feb 2 2012
Russia
Rostelecom has bought 75% of Armenia’s biggest independent network
services provider GNC-Alfa for $22.5 million, the Russian company said.
Rostelecom bought the shares via its subsidiary Teleset Networks Ltd.
A source familiar with the terms of the deal told Interfax that
Rostelecom had an option to buy the other 25% plus one share.
GNC-Alfa is Rostelecom’s first acquisition abroad. The company operates
more than 1,500 km of fiber-optic trunk network that covers 70%
of Armenia’s territory with connections to the Iranian and Georgian
networks.
GNC-Alfa plans to roll broadband Internet and digital TV out this year.
It had sales of $12 million and an EBITDA margin of 48% in 2011. Net
debt is less than $1 million.
Rostelecom signed a deal with GNC-Alfa in 2010 to market Rostelecom
-branded products in Armenia, including IP transit, Internet access
and communications channel lease.
Russia’s VimpelCom (RTS: VIMP) bought cellular and landline provider
Armentel in 2006 and Mobile TeleSystems (MTS) (RTS: MTSS) has owned
80% of K-Telecom since 2007.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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