Golden Telecom buys into Corbina

21 Dec 2006

Moscow-based alternative telco Golden Telecom has agreed to acquire a 51% stake in rival telco and ISP Corbina Telecom Group for USD10 million. Corbina’s part-owner Alexander Mamut told news agency RIA Novosti: ‘In view of the current trend of telecom sector consolidation in Russia, we have decided to consolidate our forces with Golden Telecom, and hope this will be a good basis for more ambitious plans.’ The transaction is subject to regulatory approval. Corbina has a broadband internet network in Moscow which covers 2.4 million households and Golden Telecom says the deal will give it access to almost every home in the city.