Golden Telecom completes Corbina buy

30 May 2007

The Russian wireline operator Golden Telecom has completed its purchase of a 51% stake in broadband provider Corbina Telecom. Golden paid USD162 million for the stake using a combination of shares and cash. The deal was first announced in December but has had to wait for regulatory and shareholder approval. Corbina offers internet services in Moscow and across 24 other regions. The firms say they will invest a total of USD1 billion over the next four years to roll out high speed networks in 65 of Russia’s largest cities.

Russia, Golden Telecom (Vimpelcom)