EESTI TELEKOM

ANNOUNCEMENT



ÜHISPANK AND EESTI TELEFON WISH TO ESTABLISH A JOINT VENTURE



Eesti Ühispank and AS Eesti Telefon have started final 

negotiations for the establishment of a separate joint 

venture to create the most credible and commonly used 

Internet environment. 



Chairman of the Management Board of Eesti Ühispank Mr. Ain 

Hanschmidt and Chairman of the Management Board of AS Eesti 

Telefon Mr. Jaan Männik signed a protocol of intentions, 

according to which the companies have reached an agreement on 

principle to establish a joint venture and start the preparation 

of founding documents.



The joint venture intends to offer services in all major areas of 

e-commerce beyond the parent companies' main fields of activity:  

B2B (Business to Business), B2C (Business to Consumer), 

C2B (Consumer to Business), C2C (Consumer to Consumer) and the 

surrounding infrastructure. The joint company plans to provide 

portal services, mediation services through various trading 

environments and client mediation, logistics services as well as 

software and IT solutions. 



The intended joint venture will be established according to the 

principle of equal holding, its share capital is planned to amount 

to 30 million kroons. The details of establishment of the joint 

venture must be approved after conclusion of negotiations by 

Supervisory Boards of both companies.





Raul Kalev

PR-manager

+372 6460 220