The experts think Fairlie has found the only niche on market of wide-band access to Internet, which is yet not covered by big investors of the industry.
Photo: Alexander Miridonov
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Fairlie Investments Gets Access to Moscow Internet
Offshore Fairlie Investments has bought out NetByNet, the No. 5 provider of wide-band access to Internet in Moscow, spokesmen of Fairlie announced Monday. Fairlie needs NetByNet to create a big provider and cover at least 10 percent to 15 percent of the dedicated Internet market of the city.
Fairlie Investments of the British Virgin Islands paid for NetByNet $10 million to some individuals, whose names haven’t been disclosed. The names of Fairlie’s beneficiaries are a top secret as well.
But the CEO of NetByNet is known already. The company is taken over by Vadim Kurin, former partner at the U.S. Agribusiness Partners International. Kurin denied there could be any bond between Fairlie Investments and Agribusiness.
NetByNet is the fifth provider of wide-band access to Internet in Moscow. It controls Quadra, Consul and Meridian at-home nets, servicing around 25,000 subscribers on aggregate and having the annual turnover of around $6 million.
NetByNet will be a launching pad for creating in Moscow a big company of wide-band access to Internet, according to the new CEO. For this purpose, the operator will be buying out at-home nets in the city. Moscow has around 300 nets now, each servicing from a few hundred to a few thousand subscribers.
The additional investments in the project are estimated at $25 million. A new company will have at least 50,000 to 60,000 subscribers by the end of this year and at least 150,000 by the middle of 2009.
www.kommersant.com
All the Article in Russian as of July 04, 2006
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