Golden Telecom buys regional telco

18 Dec 2007

Fixed line operator Golden Telecom has increased its presence in southern Russia through the acquisition of New Telecom Technologies (NTT), a business services provider based in the city of Krasnodar. ‘Southern Russia is one of the strategic areas for Golden Telecom. The acquisition of NTT will increase the efficiency of our operations and expand network capabilities while providing superior services to our customers,’ Golden Telecom’s CEO, Jean-Pierre Vandromme, said in a statement. Golden Telecom is currently in negotiations with Russia’s second largest cellular operator, Vimpelcom, with the cellco having made a USD4.2 billion takeover for its wireline sister company; both firms have Alfa Group and Telenor as major shareholders.