Baltic Communications Ltd.(merged with Peterstar)

active

Baltic Communications, Ltd. (BCL) started its commercial operations in 1991, as the first company providing digital telephone network to business in St. Petersburg. In May 1992, the company established a satellite connection with London, bringing St. Petersburg into the Cable & Wireless digital Network. In Aug. 1993, BCL started providing international public payphones in the city. Finally, in 1999, BCL obtained new licenses for the provision of local telephony services in St. Petersburg. The company plans to start providing such services in 2000. In Feb. 2000, the company announced the installation of the first 200 fourth-generation public phones in St. Petersburg, at a total cost of US$ 0.5 million. In October 2003 Peterstar acquired the 100% of Metromedia International stake in BCL. The deal was worth almost US$3.8 million, including US$1 million for BCL shares and a ruble loan for BCL equivalent to US$2.8 million. Merged with Peterstar in 2003