Russian line-operator enters Greek market

Russian fixed line operator Comstar has bought a controlling 51% stake in Greek Internet service provider Hellas Online for $US63 mln. The deal has yet to be approved by Greek authorities.

Comstar's Chief executive Erik Franke said it will integrate Hellas Online with the structure of Comstar-UTS and re-brand its products.

According to Mr Franke, the purchase of the Greek company enables Comstar to form a base for developing its services to provide broadcast access to the Greek market.