New Russian player emerges

11.09 Europe/London, November 2, 2011 By Chris Dziadul

An investment fund known as Elbrus Capital is set to create one of the largest providers of broadband and TV services in the Siberian region of Russia.
According to AKTR and RBK Daily, this will follow the acquisition of three Siberian companies Tomtel, Novotelekom and Good Line for a combined fee believed to be in the region of $80 million (58.1 million).
Taken together, the three have over 250,000 broadband internet and over 80,000 cable TV subscribers.
The deal is likely to be completed in early 2012, with an additional $4 million being spent on creating a single entity from the three companies.