Tascom will expand its corporate client basee and operate in the Central and Northwest Regions of Russia and in Russian cities with populations over 1 million.
Photo: Nikolay Cyiganov
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The EBRD Will Invest in Russian WiMax
The Norum venture fund, which belongs to the European Bank for Reconstruction and Development, has decided to create a wireless broadband provider from the paging company Tascom. Tascom will expand its operations to the Central and Northwest Regions of Russia and Russian cities with populations over 1 million, as well as expanding its corporate client base. Norum plans to hold an IPO for the company in two to three years or to sell it to a strategic investor.
Norum investment director Alberto Morandi stated that the fund would invest $15 million in the construction of a network and the acquisition of small regional operators. Norum has invested about $80 million in Russian companies since 1996 and it has plans to invest about $200 million more. Norum and the Finam investment company jointly control 52.9 percent of the stock in the computer game producer Buka.
Tascom is a Wifi and WiMax provider in Moscow Region and St. Petersburg. It does not release financial information. Market participants estimate that its turnover in 2007 was $6-10 million. More than 90 percent of its clients are corporate. Norum obtained control over it jointly with Quadriga Capital Russia in February.
www.kommersant.com
All the Article in Russian as of Apr. 11, 2008
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