About Civil.ge
Eng | Geo | Rus
Last updated: 20:12 - 19 Oct.'17
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
19 Oct.'17 20:12
CSOs Seek Participation in Public Defender’s Selection Process
The Parliament of Georgia will elect the new Public Defender in November.  
19 Oct.'17 15:26
Georgia Transfers BUK Missile to the Netherlands
The Dutch side requested the missile for criminal investigation over the downing of flight MH17.
19 Oct.'17 13:42
Georgia’s Foreign Trade in January-September 2017
Georgia’s trade turnover in the first nine months of 2017 increased by 12.1%.
18 Oct.'17 18:06
Parliamentary Committees Finalize Initial Discussions on 2018 Draft State Budget
The Government will submit the revised draft to the Parliament no later than November 5.
18 Oct.'17 13:46
Elections 2017: Weekly Digest No. 6
Voters will elect 64 city councils and 64 municipal mayors during the October 21 municipal elections.
18 Oct.'17 11:16
Sokhumi Mulls New Restrictions for Ethnic Georgians
Russian-backed authorities intend to restrict freedom of movement to approx. 4 000 more Gali Georgians.
17 Oct.'17 17:58
Women in Power: Georgia in the Council of Europe Report
The report looks at the political participation of women in the Council of Europe’s 46 member states.
17 Oct.'17 17:11
The Weekly Tripwire - Issue 13
Civil.ge’s news digest covering developments in Abkhazia and Tskhinvali Region/South Ossetia.
17 Oct.'17 15:27
Georgia Bids Farewell to Abkhazia Conflict Victims
The remains of 25 persons were recently handed over to their families.
17 Oct.'17 11:50
Lavrov: Moscow Will Respect South Ossetian Sovereignty
Sergey Lavrov spoke at the 19th World Festival of Youth and Students in Sochi.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
79