“ Sitroniks “ does not hasten from Greece“ Sitroniks “ can remain the co-owner of the Greek manufacturer of telecommunication equipment Intracom Telecom. Applying for 51 % Intracom Chinese Huawei can redeem only 38 % of the company, the others of 13 % in that case remain at “ Sitroniksa “.
that “ Sitroniks “ (64 % belong AFK “ System “) Considers possibility of sale of the share in Intracom Telecom companies Huawei, it became known in June of this year. As confirmed local mass-media, “ Sitroniks “ discusses sale of 51 % of the company (the rest at Intracom Holdings Group). In particular, business paper Capital. gr informed that Huawei it is interested in acquisition to 80 % Intracom Telecom. Now it is a question that “ Sitroniks “ can sell only 38 %, confirms a source “ “ close to the transaction.
“ negotiating process on Intracom Telecom between “ Sitroniksom “ and Huawei moves ahead, as it is planned, but any legally obliging documents between the parties it is not signed yet “ - have declared in a press - service “ Systems “. But the source familiar with details of negotiations, confirms that, most likely, “ Sitroniks “ will sell Huawei about 38 % Intracom.
the Vice-president on corporate communications “ Sitroniksa “ Irina Lanina confirms: “ Negotiations are conducted with several participants of the market. Probably, the transaction will be closed by the end of the year “. In a press - service Huawei have refused comments. In Intracom Telecom have not answered inquiry “ “.
Intracom Telecom delivers the telecommunication equipment more than 100 companies in 50 countries. In 2010 gain Intracom Telecom has made $339 million, the general loss - $8,8 million, the general debt - $198 million
In 2006 “ Sitroniks “ has bought control in Intracom Telecom for ˆ120 million At “ Sitroniksa “ also there was an option for the remained 49 %, but it has expired in June, 2011. To sell a share in Intracom, proceeding from a company estimation in 2006, “ Sitroniksu “ hardly it will be possible, the analyst " doubts; Uralsib the Capital “ Konstantin Belov. At the same time, having sold a share part in Intracom, “ Sitroniks “ ceases to consolidate a debt of this company on the balance, mister Belov adds. “ Dekonsolidatsija Intracom Telecom should make positive impact on the finance “ Sitroniksa “ to reduce a debt and to increase profitability of the company “ - analyst Unicredit Securities of Nadezhda Golubeva speaks. As appears from results “ Sitroniksa “ for the second quarter, margin OIBDA for six months 2011 has made 2,8 %, a total sum of loans on the second quarter 2011 end - $768,1 million except for a debt ($63,1 million) before joint venture “ Sitroniks - Nano “.
the Partnership with Huawei gives Intracom Telecom chance for development, besides, “ Sitroniks “ divides with the Chinese company risks of business, madam Golubeva considers. For Huawei Intracom Telecom is a strategic active, she adds.
a segment gain “ Telecommunication decisions “ “ Sitroniksa “ where enters Intracom Telecom, for first six months 2011 has grown on 4 % - to $250,5 million It is the weakest growth in comparison with other segments of group - “ Microelectronics “ and “ Information technology “. “ Sitroniks “ such result connected with economic recession in the market of Greece. In “ Telecommunication decisions “ the share of sales of the equipment for a wireless communication has made 21,5 % in a segment gain in the second quarter 2011 and 25,8 % for the first half of the year whereas the share of sales of the telecommunication software has made during the specified periods of 13,7 % and 16,3 % accordingly.