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Beeline Will Have to Pay Caucasus’ Debt of 75 Million Instantly

Beeline Will Have to Pay Caucasus’ Debt of 75 Million Instantly

Communication Commission cannot delay acquisition of Caucasus Online’s asset by Beeline (LLC Mobitel). 

As of the legislation, the Regulatory must take all necessary documentation from the sides and study it within 3 weeks term. Participants of the deal note, that the final term is April 5. However, the issue should be solved at the session scheduled by March 25.

The date of the next session should be noted on march 10, at the base that the documentation was extensive and the working days were not enough for the regulator for its detailed study.

According to participants of the deal, the commission demands additional documentation, which unequivocally determines the buyer’s responsibility, Beeline will have to pay Caucasus Online’s debt of 75 million instantly and not 1-year, 5-year or any other maturity schedules.

According to the sides declare, the Regulatory must become sure that the aim of the deal is development of the company, on which the buyer takes investment obligations. Respectively, the Commission demands to delineate costs in the capital’s injection  in order to determine

“Beeline’s” ambitions in line with the investment and the cost of defined orientation. “Beeline’s” plans include geographical areal expand of Caucasus Online. Caucus Online is merely represented in 4 cities by that time. Envisaging this, market players do not exclude contract increase in price.