Moscow home networks attract serious investors

Western investors are betting on the Moscow Internet access market, the newspaper Vedomosti reports. So, investor Peter Hervey, well-known in the media business, the founder of the JTS, at the end of last year purchased packages in two large Moscow home networks - Corvette Telecom and Starnet , which, as reported, intend to make serious competition to Internet providers operating with ADSL.

The shares of Korvet-Telecom (serves about 20,000 apartments in the south and west of Moscow) were bought by the investor in the amount of 51%. Peter Hervey confirmed to Vedomosti that he had established control over this provider, but refused to name the amount of the transaction. Hervey added that he had previously acquired a minotarn package in the Starnet Works company (the Starnet trademark).

Hervey's interest in the development of home networks by investing in them “millions of dollars” is explained by the fact that these businesses have a high-speed fiber-optic network that allows them to provide IPTV services and provide high-quality Internet access. Already, according to Hervey, Corvette is working with a positive EBITDA. And in a few years, this operator will become one of the leaders in the capital’s broadband Internet and pay-TV market, he said.