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Latest Satellite News Discussion, Financial boost for Russias ER-Telecom at General Satellite News forum; Published: September 3, 2010 11.11 Europe/London The Russian cable operator ER-Telecom may shortly find a new investor. AKTR and Vedomosti ...

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Financial boost for Russias ER-Telecom
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Thumbs up Financial boost for Russias ER-Telecom - 03-September-2010, 16:40

Published: September 3, 2010 11.11 Europe/London

The Russian cable operator ER-Telecom may shortly find a new investor.

AKTR and Vedomosti report that the management company Baring Vostok Capital Partners is currently in negotiations to buy what will probably be a 10% stake in ER-Telecom, which is currently 95% owned by Perm Financial Derivatives Group.

ER-Telecom provides services in 17 cities in the Volga, Urals and Siberia regions of Russia. As of Q2 2010, it had 1.1 million broadband and 970,000 cable TV subscribers.

Earlier this year, it announced plans to attract around $500 million (390.2 million) from outside investors by 2014.


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