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Telelink and Datentechnik to start venture
13 June 2011
Joint venture to expand into Russia and central Europe
Austrian firm Datentechnik and Bulgarian firm Telelink are to set up a joint venture to expand into Russia and central Europe. Telelink currently serves mainly corporate clients and is also engaged in building the networks of mobile operators Globul and Vivacom.
Telelink's chief executive Lyubomir Minchev said: "Apart from expansion into new markets, Telelink also plans to add to its portfolio solutions for smaller companies."
Following the establishment of the joint venture, Telelink will also expand into Herzegovina, Bosnia, Croatia and Austria. In order to support their expansion, the companies will be seeking additional funds, which could come through raising private capital or from stock markets in Warsaw and Vienna. The new business is anticipated to result in annual revenue of 80 million. The firms have not disclosed details regarding the deal but have said that the joint venture will hire 700 employees. GTB