Suzanne
14-02-06, 12:03 PM
The Sitronics concern, the technology arm of Russia's Sistema, and Greek Intracom Holdings have reached a non-binding agreement in principal for the acquisition by Sitronics of a 51% stake in Intracom subsidiary Intracom Telecom for approximately 120 mln euro, reads a press release posted on the Sistema website.
Completion of this transaction is subject to a number of conditions, such as completion of Sitronics' financial and legal due diligence, negotiation of a share purchase agreement and a shareholders' agreement and obtaining the necessary corporate and governmental approval, said the press release.
Intracom Telecom provides comprehensive telecommunication solutions and services in Eastern Europe, Middle East and Africa. The company's portfolio of products spans fixed and broadband wireless access and transmission systems as well as content delivery systems (IPTV, triple-play).
Sitronics will seek to integrate the company into its Infocommunications Division, whose primary focus is currently on switching equipment, billing systems and NGN, and to realise potential synergies from the companies product line overlaps, system integration capabilities and customer base, said the press release.
In Bulgaria, Intracom used to own 66% of public payphone operator Bulfon. The Greek holding is current represented here by Intracom Bulgaria which is in charge of the maintenance of the cellular network of GSM operator GloBul.
http://news.dnevnik.bg/
Completion of this transaction is subject to a number of conditions, such as completion of Sitronics' financial and legal due diligence, negotiation of a share purchase agreement and a shareholders' agreement and obtaining the necessary corporate and governmental approval, said the press release.
Intracom Telecom provides comprehensive telecommunication solutions and services in Eastern Europe, Middle East and Africa. The company's portfolio of products spans fixed and broadband wireless access and transmission systems as well as content delivery systems (IPTV, triple-play).
Sitronics will seek to integrate the company into its Infocommunications Division, whose primary focus is currently on switching equipment, billing systems and NGN, and to realise potential synergies from the companies product line overlaps, system integration capabilities and customer base, said the press release.
In Bulgaria, Intracom used to own 66% of public payphone operator Bulfon. The Greek holding is current represented here by Intracom Bulgaria which is in charge of the maintenance of the cellular network of GSM operator GloBul.
http://news.dnevnik.bg/