About Civil.ge
Eng | Geo | Rus
Last updated: 23:52 - 21 Oct.'14
 
RSS
Mobile
Twitter
Facebook
British Fund Buys 10% Stake in Caucasus Online
Civil Georgia, Tbilisi / 11 Feb.'08 / 18:09

British investment fund Growth Management Ltd has bought a 10% stake in Georgia’s largest internet provider, Caucasus Online, for an undisclosed amount, Reuters reported.

Mamia Sanadiradze, chief executive of Caucasus Online, owned 95.1% before the deal, with TBC Bank owning the remaining shares.

Caucasus Online emerged as a near monopoly with about 90% of the market in 2006 after taking over two major internet providers – Sanet and Georgia Online. The company is due to make a public offering on the London Stock Exchange by the end of the year, making it the second Georgian company listed on the LSE after the Bank of Georgia. Last September Caucasus Online signed a contract with the U.S.-based Tyco Telecommunications to lay a 1,100-kilometer underwater fiber optic system linking Georgia with Bulgaria.

Turnover for internet providers was GEL 26.15 million (USD 15.5 million) in 2006, up from GEL 19.8 million (USD 11 million) in 2005, according to the Georgian National Communications Commission. The figure for 2007 is unavailable.

Latest News
21 Oct.'14 23:52
After Series of Murders of Women, Govt Mulls Anti-Domestic Violence Policy
A murder-suicide case in Tbilisi university pushed the problem in the center of public attention.
21 Oct.'14 18:05
Top NATO Commander Visits Georgia
Gen. Breedlove, commander of U.S. forces in Europe, will meet Georgian leadership on October 22.
21 Oct.'14 11:08
Moscow Says Tbilisi’s Allegations on Abkhaz Annexation ‘Dangerous Speculation’
Georgia’s claims can seriously mar Geneva talks, the Russian Foreign Ministry said.
20 Oct.'14 13:37
Merabishvili Sentenced in Girgvliani Case-Related Trial
He was sentenced to 3 years in jail after being found guilty of power abuse and fraudulent actions.
19 Oct.'14 16:14
Tbilisi Says to Counter Russia’s Abkhaz Moves with ‘Pro-Active’ Foreign Policy
Russia-proposed new treaty with Abkhazia discussed by Georgian state security council.
18 Oct.'14 15:02
Georgian President to Visit Japan
President Margvelashvili will pay an official visit to Japan on October 21-25.
18 Oct.'14 14:55
New EU Ambassador to Georgia Takes Office
Janos Herman, a Hungarian career diplomat, has replaced Philip Dimitrov.
18 Oct.'14 00:27
Parliament Condemns Russia’s ‘Attempt to Annex’ Abkhazia
Parliament passed GD-proposed statement, voted down UNM-proposed draft resolution.
17 Oct.'14 22:55
Parliament Confirms Two Supreme Court Judge Candidates
Candidates were re-nominated by the President after they were voted down in August.
17 Oct.'14 12:12
Sokhumi Working on its Proposals to New Treaty with Russia
Views of the Russian side and Abkhaz leader “differ on number of clauses.”

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
53