OREANDA-NEWS. The Renova Group of Companies and ER-Telecom Holding, a Russian telecommunication company, decided to continue strategic partnership negotiations in order to devise an optimal pattern of cooperation between ER-Telecom and the Akado Group being the largest provider of cable TV, broadband Internet access and digital telephony in Moscow.

The parties agreed to prolong the exclusive negotiations agreement until the end of 2013.

ER-Telecom is a leading telecommunication operator in Russian regions. Communication services comprising broadband internet, cable and HD-TV and fixed-line telephony are provided to residential customers under Dom.ru brand and to corporate customers under Dom.ru Business brand. The company’s network covers 56 cities with 5.6 MM subscribers. ER-Telecom is among the top 2 largest Internet providers in Russia and is one of the TOP 4 largest pay TV providers in Russia. The company accounts for 10% of broadband internet and 10% of cable TV market in Russia. The Company’s shareholders are PFIG Holding, Baring Vostok Fund and the top management of the company.

Renova Group of Companies (www.renova.ru):
A major private Russian business group which owns and manages assets in metallurgy, mining, chemical, construction, transport, energy, telecommunications, high-tech engineering, public utilities and financial sectors in Russia and abroad (CIS, Switzerland, Italy, South Africa, and the United States of America). Renova’s largest assets include interests in UC RUSAL, Integrated Energy Systems and Swiss-based technology concerns OC Oerlikon and Sulzer.