Energis enjoys capital boost from Innova Capital

At the end of February 2005, alternative telecom operator Energis will receive $10 million in the form of, "The first tranche of subordinated loan from our new investor Innova Capital fund, which was carried out with the mediation of our main shareholder Bates Telecom Poland," explained Jarosław Mikos, Energis CEO. The money will be designated for, among others, investments in the telecom infrastructure. "We have to substantially upgrade our network and we also plan to construct the so-called last mile. We are preparing to offer broadband internet access," explained Mikos. He went on to say that the capital injection will allow the firm to carry out acquisitions of smaller competitors, such as GTS, Crowley Data System, as well as Exatel. "There is no doubt that the investor will abandon the company in the future and thus our shares could be floated. It will improve our credibility and give access to the new sources of capital," said Energis CEO. (Puls Biznesu, pp. 1, 6, 7) M.M.