|
 |
|
Rostelecom Invests $20 million in Golden Telecom
19 Jul 2007
MOSCOW, Russia (July 19, 2007) Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”), the leading provider of integrated telecommunications and Internet services in the largest population areas throughout Russia and other countries of the Commonwealth of Independent States (“CIS”), today announces that in May 2007, in connection with the Corbina Telecom acquisition, Rostelecom made a decision to exercise its non dilution rights under the existing shareholders agreement and acquired 392,988 newly issued, but unregistered, shares of Golden Telecom’s common stock. The transaction was closed on July 17, 2007. The total amount paid in cash was approximately $20.4 million.
Mr. Jean-Pierre Vandromme, CEO of Golden Telecom, noted: “This investment confirms Rostelecom's confidence in our strategy and prospects. We intend to use the proceeds for financing our ambitious growth plans including roll out of residential broadband networks and further expansion in the long distance market”.
|
|
|
|
|
|
Golden Telecom Inc.
Altimo, a leading private equity group, operating on some of the world's most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (Golden Telecom, Inc., Turkcell Iletisim Hizmetleri A.S., Kyivstar GSM, MegaFon, VimpelCom, Sky Mobile). Those assets are in Russia , the CIS and other promising emerging markets.
Golden Telecom Inc. is a leading independent fixed-line communications operator in Russia. The company provides, via its own infrastructure, complex telecommunications and internet services in Russia and several CIS countries. Listed on US NASDAQ. In Q1 2008, VimpelCom acquired 100% of the oustanding share capital of Golden Telecom.
|
|
|
|
|
