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Technology Stocks : Golden Telecom Inc.

GLDN 0.0001000

-98.7%

Dec 9 4:00 PM EST

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To: Xenogenetic who wrote (1)	1/14/2000 12:30:00 PM
From: Xenogenetic	Read Replies (1) of 7

Here is a rehash of some old news: Golden Telecom Announces Acquisition of Nevalink ST. PETERSBURG, Russia--(BUSINESS WIRE)--Nov. 24, 1999--Golden Telecom, Inc. (GTI) (Nasdaq: GLDN - news), through its subsidiary TeleRoss, today announced its acquisition of the assets of Nevalink, an Internet service provider (ISP), and the acquisition of full-equity ownership of NevaTelecom from Cauperwood Consulting. Both Nevalink and NevaTelecom provide telecom and Internet services to the St. Petersburg market. The acquisition allows TeleRoss to make a substantial entry into the second largest market in the Russian Federation and develop a strong position in the St. Petersburg area. Nevalink's customers will benefit from improved service levels from TeleRoss's planned expansion and investments into the Internet service infrastructure. ``We see our presence in St. Petersburg as being fundamental to our future growth in the Russian Internet market,' said Clifford Gauntlett, director of GTI's ISP Division. ``The acquisition of these organizations is part of a strategic effort on the part of TeleRoss to become the primary, quality Internet service provider across the CIS.'

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