Russian operator Golden Telecom has agreed to acquire 51 percent of Corbina Telecom Group for USD 10 million cash plus an issue of 8 percent of Golden’s shares. Corbina operates in Moscow and 24 Russian regions, offering fibre-to-the-building services in major cities, DAMPS-based fixed-wireless services to some 35,000 customers and switched voice and data for the SME and residential market. The company is expected to generate sales of USD 90 million this year. In Moscow alone the company’s FTTB network covers some two-thirds of the city’s households, with 110,000 customers taking internet services and another 10,000 signing up every month. Golden and the other shareholders have agreed to pursue an IPO for Corbina by the end of 2008.

Source-  telecompaper  Wireless Mobile Telecom