CDB to furnish loan to Russian Corporation, Huawei to supply equipments

Published on January 28, 2010 by connie | This story has been viewed 809 views

According to the report of one Russian Newspaper Kommersant on January 26, mobile WiMax operator FreshTel Communications Group whose main shareholder is private placement fund, has found finance source for its network construction in Russia. The operator will get 100 million dollars loan from China Development Bank with one of the prerequisites that it must use the equipments supplied by China Huawei Technologies Co., Ltd for its network construction.

According to relevant person, FreshTel will sign loan agreement with China Development Bank recently with a loan term of five years and the money will be used for constructing the mobile WiMax network in Russia’s Northwest and South area and Siberia. The collateral condition of this agreement is that FreshTel must take Huawei as its sole equipment supplier. This network operator does not confirm nor disapprove this piece of news to Kommersant and due to the time difference, the CDB and Huawei’s headquarter can not be contacted.

FreshTel Communications Group is a holding company promoting mobile WiMax technology in Russia (“Interproject Corporation”), Ukraine (“Ukraine Hi-tech Corporation”) and Italy (“AriaDSL Corporation”). The shareholders of the Group’s Russia and Ukraine parts are Icon Private Placement holding about 72% shares, “Russian Technologies” Venture Capital Funds, which was owned by Alfa Group and wrote off in 2008, former partner holding about 23% of the shares and Intel holding about 5% of the shares.

Shenzhen Post Elaine Contributes to the Story.

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