Renova invests for Comcor expansion

18 Dec 2007

The Russian investment group Renova Media is aiming to pump up to RUB6 billion (USD246 million) into its Moscow cable TV business Comcor in an effort to create an advanced network capable of serving three million customers. RUB4 million will be spent in 2008, Kommersant reports, as Comcor attempts to modernise its antiquated networks and increase its broadband internet subscriber base to 750,000 and its pay-TV customers to 475,000. Renova Media has agreed a RUB6 billion credit facility with Sberbank.

Russia, AKADO Telecom