San Diego-headquartered VelaTel Global Communications has announced that it has signed an agreement with Cyprus-based holding company Kerseyco Trading to acquire a 51% controlling interest in Kerseyco and its Serbian subsidiary, internet service provider (ISP) VeratNet. In exchange for the stake VelaTel will upgrade VeratNet’s wireless broadband infrastructure, doubling the subscriber capacity of the network. The development will utilise equipment provided by Chinese vendor ZTE under its existing strategic agreement with VelaTel.
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OVETEL VelaTel to acquire 51% of Serbian ISP
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