EBRD investing in Azeri wireless internet
The European Bank for Reconstruction and Development (EBRD) is
investing $4 million in the stock of the Datacell company, which is
providing wireless internet services in Baku and plans to expand
this coverage into the Azerbaijani regions. The acquisition of the
JSC’s shares aims to promote widening the scope of Web use in
Azerbaijan, according to the EBRD Baku office.
Established in 2005, Datacell is operating under the Еlcell
trademark. The company’s services are based on the cutting-edge
HC-SDMA iBurst wireless communication technology, which provides
for high-speed and reliable wireless cable and mobile internet
services for a reasonable price.
In addition to broadbad internet, Datacell renders a number of
high-quality internet services for banks, retail outlets, transport
and other sectors.
The EBRD’s investment in the newly-issued Datacell stock will allow
the company to expand its services both to individual and corporate
clients in the capital and other parts of the country.
By 2011, Datacell intends to provide high-speed internet connection
in Baku and the entire Absheron Peninsula, which encompasses the
city’s surrounding regions, as well as in 12 other major cities of
Azerbaijan.*
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