Russian national telecoms operator Rostelecom yesterday announced that its wholly-owned subsidiary, Teleset Networks, has invested RUB682 million (USD22.5 million) to take a 75% minus one share stake in GNC-ALFA, the largest independent internet and data provider in Armenia. Commenting on the purchase Rostelecom president Alexander Provotorov said: ‘This is the first acquisition outside of Russia that we have concluded as part of our international expansion policy. The acquisition of a control stake in GNC-ALFA provides Rostelecom with access to a well-developed infrastructure for broadband and pay-TV services in the Armenian telecommunications market, a market which has a significant growth potential.’ As reported by CommsUpdate, at the end of last month GNC-ALFA announced the extension of its countrywide 10Gbps bandwidth IP/MPLS network to the cities of Gavar, Idjevan, Martuni and Noemberyan
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OVETEL Rostelecom acquires 75% minus one share stake in Armenia’s GNC-ALFA
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