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North-West Telecom

February 9, 2005

North-West Telecom JSC acquisitions Novgorod alternative operators

North-West Telecom (NWT) acquires 48% of the Novgorod Deitacom LLC (the rest 52% already belong to NWT JSC) and 100% of the Novgorod Datacom LLC. The Board of directors made such decision on the meeting, which was held on January 21, 2005.

The Novgorod Datacom LLC and the Novgorod Deitacom LLC are the telecommunication companies providing the Internet access services to private and corporate clients, controlling about 60% of this market in Veliky Novgorod. The companies provide services of dial-up access, dedicated access, LAN-to-LAN and packet telephony. The total amount of the deal will comprise about USD 2.3 millions.

According to the NWT’s Chief executive officer Vladimir Akulich, “purchase of large Internet market players in Novgorod is according with the strategy of the Company aimed to strengthen the positions of the NWT in the regions also due to expansion of the range of new services and increase of gains in the competitive market segment”.

The financial consultant of the acquisitions was the Web-Invest Bank, which made an analysis of acquisitions advisability and also an evaluation of financial parameters of the supposed transaction. 

In the opinion of the Managing Director of the Web-Invest Bank Dmitry Gerkusov, the ”North-West Telecom”, being the largest operator of fixed communication of the North-West, has chosen the correct strategy of active increase of the share of gains from non-regulated highly cost-effective services in the regions of its presence. And in this connection, the first in the history of the “NWT” M&A deal – purchase of the largest Internet-companies of the Novgorod area is undoubtedly a reasonable and profitable acquisition”.

 

 

 

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