Golden Telecom buys majority stake in Uzbek telco

Russia’s largest cellco Golden Telecom has acquired a 54% stake in Uzbekistan telco Buzton for USD2.8 million. Buzton is Uzbekistan’s leading corporate service provider and the only alternative fixed line operator in the country; it posted revenues of around USD3.9 million in 2003. The remainder of Buzton is owned by residential monopoly operator Uzbektelecom.