Altimo Borrows $1.5 billion to Develop Projects in Eurasia
14 Mar 2007
Altimo, a leading $14 billion international telecoms investment group, and Deutsche Bank have entered into an agreement to provide Altimo with a two year, $1.5 billion loan.
The size of the loan testifies to a high level of trust of the international banking and investment community in Altimo's operations in global telecommunications markets.
Altimo intends to use the funds to develop its investment projects in emerging mobile communications markets in Eurasia.
In particular, Altimo has made clear its intention to enter the rapidly growing markets in South and South East Asia such as India, Indonesia, and Vietnam. These markets appear to be promising for Altimo in terms of their large populations, fast and dynamic economic growth, and relatively low level of penetration of mobile communications.
In November and December 2006, Altimo announced opening representative offices in Hanoi (Vietnam) and Jakarta (Indonesia). Altimo international headquarters have been set up in London to coordinate global operations.
Altimo confirms its strategy aimed at implementing new investment projects and expanding operations in emerging Eurasian markets.
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