Nizhny Novgorod Cellular Communications (NCC) (merged with VolgaTelecom)

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Nizhny Novgorod Cellular Communications (NCC), was a GSM 900/1800 cellular operator in the Nizhny Novgorod Region. The company was founded as a joint venture between the local network operator Svyazinvest (currently JSC Volgatelecom), and RTDC (US West). The network used GSM 900 technology and consisted of six base stations by 1997. The company started its commercial operations in May 1995. The total population in the license area was around 3.7 million in 1997. In 2003 the company covered about 52% of the market of cellular communication of Nizhny Novgorod and Nizhegorodsky region. At the end of February 2003, VolgaTelecom (formerly Nizhegorodsvyazinform) became the sole owner of NCC after acquiring RTDC's 50% stake for $20 million. To finance the deal, VolgaTelecom issued a three year bond worth RUR 1 billion (US$31 million) with yield to maturity of 13.65%. VolgaTelecom (controlled by Svyazinvest) planned to consolidate its cellular assets in the Volga region by setting up a unified mobile phone operator on the basis of Nizhny Novgorod Cellular Communications. This process continued into 2006. On February 2003 Volga Telecom was 100% owner of the project. At the end of 2006, Volga Telecom (project 3174) owned 50% of capital shares of Nizhny Novgorod Cellular Communications, North-West Finance Company (Severo-zapadnaya finansovaya kompanya), nominal shareholder, held another 50%. Note: investments and connections are consolidated into Volga Telecom (project 3174). http://www.ncc.nnov.ru/ http://www.ncc.nnov.ru/english/