Comcor, Andersen Group found joint venture

Moscow Telecommunications Corporation (Comcor) and Andersen Group have announced that they have created a joined venture called Comcor-TV. The new company will specialize in construction and maintenance of hybrid fiber optic and coaxial networks for cable TV and Internet access in Moscow. As a subsidiary of Comcor, Comcor-TV was created in 1997, having built cable networks in the Moscow districts Khamovniky and Chertanovo, as well as in Zelenograd. The whole project calls for the interconnection of 1.5 million apartments in Moscow and is valued at $350 million. Under the terms of the contract with Andersen Group, the Russian company invested in the joint venture $33 million in the form of already-built infrastructure, while the American partner provided another $33 million from its own money and a group of investors. As a result, Comcor owns 50 percent plus one share of Comcor-TV. Further plans call for Andersen Group to help the joint venture to get a $100 million loan. Part of this loan is to be provided by equipment suppliers some of which – Harmonic, Antec, Cisco Systems, ADC Telecommunications - have already signed respective agreements. Another $150 million are to be derived from the provision of Comcor-TV services and reinvested in further network development. The partners expect return on investments in 22 months, planning to finish the project in 2005. The full service package – including 17 Russian TV channels, more than 20 foreign TV channels, and high-speed Internet access - will become available in Chertanovo and Khamovniky next month. The tariffs will be about $2 a month for the Russian TV, $12 a month for the foreign TV, and about $30 a month for Internet access. Hookup fees will be as follows: TV - $10 to connect plus $100 to purchase or $5 a month to lease a decoder; Internet - $10-$50 to connect plus $250 to purchase or $8 a month to lease a cable modem.

Comcor: (+7 095) 200-25-38 www.comcor.ru

← январь 2000

2 3 4 7 8 9 10 11 14

март 2000 →