Bloomberg News

Polymetal’s Billionaire Owners Acquire Telecom Operator in Peru

December 15, 2011

Dec. 15 (Bloomberg) -- Polymetal International Plc’s billionaire shareholders Alexander Nesis and Alexander Mamut acquired a Peruvian broadband internet service provider.

Mamut’s investment vehicle A&NN and the Nesis-led ICT Group acquired 88 percent of Lima-based Yota Del Peru, Igor Litvak, director of investments at ICT, said by phone from Moscow today.

The new owners will invest more than $100 million to obtain 300,000 subscribers by 2015, according to an e-mailed statement that didn’t disclose the deal’s terms. ICT Group owns broadband internet providers in Italy and Bangladesh, Litvak said.

--Editors: Tony Barrett, Stephen Cunningham

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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