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Another regional acquisition for Golden Telecom: Sibchallenge
07 Aug 2003
MOSCOW, Russia (August 7, 2003) -Golden Telecom, Inc. (NASDAQ: "GLDN") today announced that it has signed a share purchase agreement to acquire 100% of OOO "Sibchallenge Telecom", the leading alternative wireline operator in Krasnoyarsk. Sibchallenge Telecom owns 100% of the ownership
interests in ZAO "Tel", an internet service provider, also based in Krasnoyarsk. The deal is expected to close before the end of August 2003. The closing of the transaction is subject to the receipt of normal
regulatory approval and completion of conditions precedent. The price of the acquisition is approximately $15 million. Sibchallenge Telecom has constructed and operates 100,000 telephone numbers in Krasnoyarsk. It owns its own network in Krasnoyarsk, with an Electronic Worldwide Search Digital (EWSD) switch, 127 km of fiber-optic cable, 170 km of copper
cable, and more than 30 points of presence in the city. It also has a Code Division Multiple Access (CDMA) wireless license, with approximately 8,000 users. It is the main competitor for the incumbent in Krasnoyarsk, OAO "SibirTelecom". ZAO "Tel" estimates that it controls 50% of the dial-up internet market in Krasnoyarsk. The consolidated revenue for Sibchallenge Telecom for 2003 is expected to be about $10 million and $12 million, calculated according to Russian Accounting Standards (RAS).
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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.
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