Financial boost for Russia’s ER-Telecom
By Chris Dziadul
Published: September 3, 2010 11.11 Europe/London
The Russian cable operator ER-Telecom may shortly find a new investor.
AKTR and Vedomosti report that the management company Baring Vostok Capital Partners is currently in negotiations to buy what will probably be a 10% stake in ER-Telecom, which is currently 95% owned by Perm Financial Derivatives Group.
ER-Telecom provides services in 17 cities in the Volga, Urals and Siberia regions of Russia. As of Q2 2010, it had 1.1 million broadband and 970,000 cable TV subscribers.
Earlier this year, it announced plans to attract around $500 million (€390.2 million) from outside investors by 2014.
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