Cellular-News
May 16 2010

Comstar Buys Remaining Shares in Armenian WiMAX Operator

– Russia’s Comstar says that it has completed a transaction to increase
its shareholding in CallNet Enterprises, which owns 100% of the
Armenian operator Cornet. The Group has acquired 25% minus 1 share of
CallNet and now controls 100% of the company.

Cornet offers digital local and long distance telephony services,
broadband internet access, data transfer and corporate network
management services, utilizing both fixed line technologies as well as
WiMAX wireless services. Cornet uses both proprietary and rented fiber
optic and radio relay networks. The company’s customers comprise both
private and corporate subscribers, government organizations and other
communication operators.

Comstar’s initial shareholding of 75% plus 1 share in CallNet was
acquired in October 2006.