About Civil.ge
Eng | Geo | Rus
Last updated: 23:05 - 26 Jul.'16
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
26 Jul.'16 23:05
Tbilisi Says Local Man ‘Physically Assaulted by Occupying Troops’ at S.Ossetia Administrative Border
The incident occurred close to the village of Kirbali of Gori municipality, southeast of Tskhinvali.
26 Jul.'16 15:19
Addressing Georgian Diplomats, PM Speaks of Foreign Policy Priorities
Georgian diplomacy should be capable of being adapted to fast changing int’l situation, he said.
26 Jul.'16 12:11
Prosecutor’s Office Probes into Alleged Pressure on Constitutional Court
Prosecutor’s office also opened investigation into alleged pressure by police on President’s relative.
25 Jul.'16 19:23
PM, Politicians Comment on President’s Allegation of ‘Pressure’ on his Relative
PM ruled out there was a political motive when police searched President’s relative.
25 Jul.'16 15:25
After Meeting Constitutional Court Chair, President Speaks of ‘Dangerous Trend’
President said “pressure” was also exerted on one of his family members.
24 Jul.'16 17:28
GDDG Names Majoritarian MP Candidates in Samegrelo Region
Agriculture Minister is one of the seven majoritarian MP candidates nominated on July 23
24 Jul.'16 13:49
Georgia Sends 39 Athletes to Rio Olympics
It is the largest ever Olympic team for Georgia, which first sent athletes as an independent state to the Summer Olympics in 1996.
23 Jul.'16 19:44
UNM’s Party List of MP Candidates
There are 18 incumbent lawmakers in the list, 13 of them in the top 30 candidates.
22 Jul.'16 18:41
Lavrov Speaks of ‘Right Trend’ in Russia-Georgia Ties
“More common sense is now felt in our relations,” Russia’s Foreign Minister said.
21 Jul.'16 20:41
Prosecutor’s Office Asks Constitutional Court Chair to Provide Details of Alleged Pressure
The prosecutor’s office said it’ll take “relevant legal actions” if Papuashvili provides detailed information.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
53