Andmed seisuga: 23.11.2024 13:08 (GMT+2)
AS EESTI TELEKOM STOCK EXCHANGE ANNOUNCMENT 26.09.2005
Sale of AS Intergate
Elion Enterprises AS, a 100%-owned subsidiary of AS Eesti Telekom, sold on 20th
September 2005 50% interest in an associated company AS Intergate. The owner
of the remaining shares of AS Intergate, SEB Eesti Ühispank, also sold its
interest in this company.
AS Intergate was acquired by the management of this company. According to
agreement between the contracting parties the transaction price will not be
disclosed.
As the strategic focus of Elion has changed it was decided to sell the ownership
in AS Intergate. Transition of the shares has taken place by now. The transition
cannot be treated as a transaction with related party, neither Council nor
Management Board of Elion Enterprises or Eesti Telekom have no personal interest
in the transaction.
AS Intergate (www.intergate.ee) was established in 2000 to develop value-added
and popular Internet environments for customers and businesses. The most well-
known projects of Intergate were an insurance broker E-Insurance (E-Kindlustus),
a leading real estate portal CiTY24 and IT solutions developer Webmedia.
Intergate´s share capital is 30 million kroons (1.9 million Euros) and net
profit in 2004 5.7 million kroons (0.36 million Euros).
Elion (www.elion.ee) is the largest telecommunications and IT provider in
Estonia. It is owned by AS Eesti Telekom, listed at the stock exchanges of
Tallinn and London (TSE:ETL/LSE:EETD). In Estonia Elion is the market leader in
fixed network calls, in Internet subscriptions and data communication solutions,
and it has made a powerful entry into the IT market. In 2004 the consolidated net
sales of the Elion Group were 2.679 billion kroons (171 million Euros), and the
consolidated net profit was 342 million kroons (22 million Euros). Currently the
Elion Group employs a staff of 1473.
Hille Võrk
AS Eesti Telekom
+372 6 272 460