Comstar Buys Remaining Shares in Armenian WiMAX Operator
Published on: 16th May 2010
Note -- this news article is more than a year old.
Russia's Comstar says that it has completed a transaction to increase its shareholding in CallNet Enterprises, which owns 100% of the Armenian operator Cornet. The Group has acquired 25% minus 1 share of CallNet and now controls 100% of the company.
Cornet offers digital local and long distance telephony services, broadband internet access, data transfer and corporate network management services, utilizing both fixed line technologies as well as WiMAX wireless services. Cornet uses both proprietary and rented fiber optic and radio relay networks. The company's customers comprise both private and corporate subscribers, government organizations and other communication operators.
Comstar's initial shareholding of 75% plus 1 share in CallNet was acquired in October 2006.