. Last Updated: 07/27/2016

Andrew Corp. to Sell Russian Telecoms Shares

U.S. telecommunications corporation Andrew Corp. has plans to sell its share in several major telecommunications companies in Russia and Ukraine valued at between $60 million and $80 million. In total these companies own 4,500 kilometers of fiber-optic cable, hundreds of satellite stations and scores of digital switchboards.

"The company is currently searching for new strategic possibilities, as a result of which Andrew's could pull out of all subsidiary operating companies in Russia and in Ukraine," said Greta Brown, spokeswoman for Andrew Corp.

Companies in the MirTeleKom holding that unites all Andrew Corp.'s Russian subsidiaries could fetch up to $140 million, said Mikhail Alexeyev, head consultant at J'son & Partners.

In 1991, the company's first subsidiary, Makomnet, which operates a fiber-optic network running through the tunnels of the Moscow metro, was established. Andrew Corp. created a similar company with the St. Petersburg metro the next year — Metrocom. In 1993, Andrew Corp. established the Raskom company in conjunction with the Oktyarbrskaya Railroad, which operates in northwest Russia, to operate fiber-optic communication lines between Moscow and Finland.

Andrew Corp. also owns a share in Anakom, an operator of long-distance communications using land-based satellite stations, and others.