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Business news, 25.12.2003 10:57

Cable network monopolist purchased by Moscow company

Cable network monopolist purchased by Moscow company The monopolist cable network of St. Petersburg “Telekompanya Sankt-Peterburgskoye Kabelnoye Televideniye” (St. Petersburg Cable Television Co.) has changed its owner. “Natzionalnye Kabelnye Seti” NKS (The National Cable Networks Co.) has purchased about 19% of shares of St. Petersburg company. The HKS packet of shares will grow by 66% in the short run. The deal’s value is unknown. The new stockholders promise to create an up-to-date cable television network in the coming 2 or 3 years. The future network will not only help make regular and cable television services available, but also provide Internet access and individual ordering of films (customer receives the ordered film at any convenient time). Furthermore, the future cable networks will make the communal services operate elevators, central heating systems etc. that available in apartment houses. The Director General of “TKT Company” Victor Pinchuk declared that the acquisition of controlling stake of his company is just a matter of time. It is necessary, however, to receive approval from the Anti-Monopoly Committee and the City Administration. Victor Pinchuk, nevertheless, added that they had got through all the preliminary consultations, and the both parties had come to a general agreement. 66% pañkage of shares just bought from “TKT Co.” used to belong to “Radiotehnologiya Company”.

According to “DP” information, “TKT’s” manager Petr Abaturov would exercise control over this company. Yet he refrained from commenting on the deal. The Administration of St. Petersburg controls the rest 34% of «TKT» shares through its own company “Sankt-Peterburgskoye Kabelnoye Televideniye”.

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