Alternative Digital Network JSC (represented by the SMH Fund of Direct Investments run by Zubr Capital, and the European Bank for Reconstruction and Development) has purchased 100 percent of Solo’s shares. The latter is now changing its top managers: from now on, Solo will be headed by the Marketing Director of Alternative Digital Network, Alexander Vavulo.
“The deal is another step in building the largest operator of fixed data transfer, using Ethernet technology in Belarus,” stresses Zubr Capital’s Executive Director, Konstantin Zapolyansky.
This is Atlant Telekom’s second largest merger deal, following the attraction of investments from the European Bank for Reconstruction and Development last October; 35 percent of the company’s shares were sold. The first merger took place a week later, when Gomel’s TeleSet JSC was bought. The new leadership is refraining from changing the existing regional brand but has altered the tariff policy. Time will tell how subscribers feel about the move.