Deal between Silknet together with Geocell Hits 153 million United states dollar

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Deal between Silknet and Geocell came to 153 million USD, reporters were mentioned at today’s media conference, which was presented by Giorgi Ramishvili, founder of Silk Road Group plus Silknet supervisory board ceo, Lekso Topuria, member of supervisory forums of Silk Path Group and Silknet, Badri Japaridze, founding father of TBC Bank and TBC Banking institution director general Vakhtang Butskhrikidze.

As portion of the deal, a full-scale telecommunication enterprise will be established, that will combine Silknet internet, wire and landline call services with Geocell mobile services.

Merger of the telecommunication market leader firms will ensure a source of wider spectrum with innovative products and services to help Georgian consumers and grow access to international outstanding content, they known.
Agreement has been accomplished with Geocell stakeholders: Telia Company (STO:TELIA) and Turkcell (London stock exchange: TKC, IST: TCELL).

Value of the deal composed 153 million USD. The particular financing component might be ensured by a financial loan of Georgian and native banks, organized by simply TBC Bank and Silknet’verts own capital. A good full-scale telecommunication company shall be created as a result of the following deal, the news discussion participants noted.

The deal enables to create an internal telecommunication operator, which often owns landline and mobile networks. Thriving scales will encourage the company to have enhanced access to international financial markets and draw additional investments along with continuously develop technologies.?

Our subscribes will receive extra benefits, because the objective is to deliver higher quality products, Giorgi Ramishvii said.

After GNCC gives its permission, the purchasing procedures will end in the 1st half of 2018. Minster of Funding Mamuka Bakhtadze also attended good news conference.

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