Friday, June 1, 2007

Metromedia buys Eastern European telecoms

Metromedia International Group Inc. has purchased the remaining 74.4 percent ownership interests in two communications companies in the former Soviet republic of Georgia.

Charlotte-based Metromedia paid $12.6 million for the shares in Telecom Georgia and Telenet.

Telecom Georgia is a provider of international long distance and local operator interconnection services in Georgia. Telenet markets Internet access and related data communications services. [more]

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