Renova Consolidates Cable Assets

Shareholders of the Renova group of companies , together with partners, have decided to consolidate their telecommunications assets within a single holding company, which has received the name Renova-Media. The controlling stake in the new company is assigned to the structures of the Renova group of companies, the remaining shares belong to a group of private investors led by the President of the Cable Television Association of Russia, Yuri Pripachkin.

The main activity of the new company will be the provision of television, high-speed Internet and telephony services in a single package (triple play) based on modern fiber-optic cable technologies. According to Andrei Shtorkh, the official representative of the Renova group of companies, “Renova-Media shareholders see the creation of a company with a capitalization of at least $ 2.5 billion over the next 2 years, both through the development of existing assets and account of the acquisition of new.