Comstar agrees USD1 billion loan

11 Jun 2007

The Russian telco Comstar UTS has opened a RUB26 billion (USD1 billion) five-year credit line with Sberbank. The main part of the loan will go towards restructuring existing financing, though ‘significant sums’ will be directed towards the development of its corporate networks, Cnews reports. Local analysts say Comstar UTS will be eyeing takeovers of smaller telcos in Russia and the CIS.

Russia, Comstar United TeleSystems (Comstar UTS)