Golden earmarks USD100 million for Ukraine

6 Dec 2007

Russian and CIS alternative telco Golden Telecom has announced plans to invest USD100 million in the Ukrainian broadband market by 2011, with spending earmarked for the rollout of high speed infrastructure in Kyiv and five other cities with populations of more than a million. Golden, which offers internet services in Ukraine under the Svit Online brand, aims to control at least 20% of the country’s broadband market by 2011, a sector it estimates will generate annual turnover of USD800 million by that date. Golden’s total Ukrainian revenues in the third quarter of 2007 were USD28 million, out of a group turnover of around USD350 million.