August 28, 2006 at 13:17Moscow house networks attract serious investors
Western investors are betting on the capital’s Internet access market, the Vedomosti newspaper reported . So, well-known investor in the media business, Peter Gervy, the founder of STS, bought packages in two large Moscow home networks, Corvette Telecom and Starnet , which, reportedly, intend to seriously compete with Internet providers operating with ADSL.
Shares of Corvette Telecom (serving about 20,000 apartments in the south and west of Moscow) were bought by the investor in the amount of 51%. Peter Gervi confirmed to Vedomosti that he had established control over this provider, but refused to give the amount of the transaction. Gervy added that even earlier he had purchased a minaret package in the company “Starnet Works” (trademark “Starnet”).
Hervey’s interest in the development of home networks by investing “millions of dollars” in them is explained by the fact that these businesses have a high-speed fiber-optic network that allows them to provide IPTV services and provide high-quality Internet access. Already, according to Hervey, Corvette is working with a positive EBITDA. And in a few years this operator will become one of the leaders in the capital’s market for broadband Internet access and pay TV, he said.
Shares of Corvette Telecom (serving about 20,000 apartments in the south and west of Moscow) were bought by the investor in the amount of 51%. Peter Gervi confirmed to Vedomosti that he had established control over this provider, but refused to give the amount of the transaction. Gervy added that even earlier he had purchased a minaret package in the company “Starnet Works” (trademark “Starnet”).
Hervey’s interest in the development of home networks by investing “millions of dollars” in them is explained by the fact that these businesses have a high-speed fiber-optic network that allows them to provide IPTV services and provide high-quality Internet access. Already, according to Hervey, Corvette is working with a positive EBITDA. And in a few years this operator will become one of the leaders in the capital’s market for broadband Internet access and pay TV, he said.