BELARUS NEWS AND ANALYSIS

DATE:

24/08/2007

Velcom sold to Cypriot-based SB Telecom

Belarusian mobile operator Mobile Digital Communications (MDC), which offers services under the brand names Velcom and Privet, has become a 'foreign private unitary enterprise', after Cypriot-based SB Telecom acquired 100% control of the company on 22 August 2007. Until that date Velcom was a Belarus/Cypriot joint venture owned by the government of Belarus (30.9%), SB Telecom (49%), Beltechexport (20%) and national PTO Beltelecom (0.1%). Accoridng to e-Belarus, citing a report from Interfax, the state's share in Velcom was valued at between USD300 million and USD500 million.

Source:

http://www.telegeography.com/cu/article.php?article_id=19372&email=html

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