ER-Telecom buying Moscow’s RiNet

19 Nov 2019

ER-Telecom, Russia’s second largest broadband provider by subscribers, is buying one of the oldest ISPs in the country, RiNet in Moscow, representing ER’s first acquisition of a consumer internet provider in the capital, ComNews reports. On 15 November Perm-based ER’s board of directors approved the purchase of RiNet (registered as Kronix Plus) from Sergey Ryzhkov (60%) and Viktor Losev (40%) alongside three associated Moscow operating assets: RICenter (specialist SME provider, wholly owned by Mr Ryzhkov); RussNet (ISP and IP telephony provider, 60/40 owned by Ryzhkov/Losev); and Centrodom (ISP for ‘elite’ homeowner associations and corporate clients, 100% owned by Losev).

RiNet, operating since 1995, connects apartments and offices with its own fibre-optic network in the centre and south of Moscow. It has a market share of no more than 1% of broadband subscribers in the capital, although notably it is the sole ISP for certain buildings in the Central Administrative District.

Russia, ER-Telecom (Dom.ru)
http://rinet.ru