Intracom Telecom Intrakom Telecom

Intracom Telecom company – the international supplier of telecommunication systems and solutions working at the market since 1980. Intracom Telecom performs developments in the field of transport networks for small cells, wireless data transmission and broadband wireless access and successfully unrolls the industry-leading package "point-to-point" radio systems and "point multipoint" worldwide. More than 100 customers selected Intracom Telecom company for the provided advanced technologies from more than 70 countries. The company has the staff numbering more than 1,800 people and manages child divisions in Eastern Europe, Rossi and the CIS, in the Middle East and in Africa, Asia and North America.

History

The company was formed in 1977 in the Greek city of Argiropol (the suburb of Athens) as software developer for telecommunication systems.

In 1983-1985 will transfer the base to the city of Peaniya (also the suburb of Athens) and begins development and production of the telecommunication solutions. The company actively participates in transfer to a digital format of the Greek telecommunication networks.

In the early nineties Intracom Telecom becomes the largest producer of telecommunication and information systems in Greece. In 1990 shares of the company begin to be traded on the Athens exchange.

2005: Restructuring

In 2005 the company is re-structured. There is an Intracom Holdings head enterprise as a part of which are selected:

• Intracom Telecom (telecommunication),
• Intracom Defense Electronics (defense systems) and
• Intracom IT Services (IT services and services).

2006: Sale of a controlling stake in Infracom Telecom of the Russian company

In June, 2006 JSC Sitronics controlled by the Russian financial and industrial group AFK "Sistema" acquires 51% of the shares Intracom Telecom and 49% remain with Intracom Holdings.

2012

Sitronics sells 3%

In March, 2012 Sitronics sells 3% of shares in Intracom Telecom of Rydra Trading Company, reserving a packet in the amount of 48%^[1].

Intracom suggests RTI to redeem 49% on the option

The Greek Intracom telecom stated that fair assessment of the company on the redemption on the option of 49% of stocks shown to Sitronics, and now RTI, makes not less than 160 million euros. On December 18, 2012 the Greek newspaper Capital reported about it.

The source close to a situation reported to TAdviser what RTI should make any decision on the statement till December 21, 2012 inclusive. Earlier the Vedomosti newspaper reported that Russian the holding conducts negotiations on the solution of this problem.

The source told TAdviser that Russians hoped for reduction of price of the company as a result of crisis that did not occur.

"The plant not only endured crisis, but also not bad feels now", - continued a source. - The credits gathered earlier forced to exercise the option them".

According to a source, it is profitable to RTI to play for time now to develop any opinion on current situation.

"Until the end of the year nothing will be solved. The next possible round of negotiations, most likely, will begin in 2013 because now in Europe Christmas, then in Russia there will be holidays", - continued a source.

In RTI the press secretary Konstantin Poltoranin told TAdviser that according to the company this assessment does not correspond to reality realities. "It is absolutely inadequate and dictated first of all by financial difficulties in the country in particular, and in Europe in general", - Poltoranin commented on TAdviser. - "In 2010 Intracom already left with the same amount, and then assessment procedure was begun. However it was suspended for various reasons".

According to him, RTI will make the decision on current situation in the nearest future. "We can purchase this asset, a question of the price and time", - he concluded.

The analyst of UK "Finam Management" Anna Zaytseva also agrees with Konstantin Poltoranin. "At first sight, taking into account negative dynamics of financial results in recent years, similar assessment looks is overestimated", - she told TAdviser. - The option obliges to carry out by RTI the transaction, but packet cost will probably become a subject of long negotiations".

According to her Intracom remains unprofitable business, and all attempts to attract in the company of the new strategic investor are not successful yet.

"I believe, for the benefit of RTI to try to obtain the greatest possible discount", - Anna Zaytseva continued to answer questions of TAdviser. - In the medium term after consolidation of 100% of Intracom the most probable option of succession of events an exit of the Russian corporation from this project as a result of business sale to the profile player or, at least, considerable reduction of participation in capital stock is represented".

She is sure that still adverse economic country situation does not favor to this scenario.

Notes