Intracom Telecom has announced its complete exit from the Russian market in the framework of the European Union sanctions on Russia imposed on February 25th 2022.
In parallel, Intracom Telecom has agreed the sale of 100% of its Russian subsidiary, Intracom SVYAZ LLC, on September 5th 2022.
Kartlos Edilashvili, Acting CEO of the Intracom Telecom Group, stated: “We had already halted all our businesses in Russia since the beginning of the EU sanctions on February 25 2022 and by finalising this transaction we are completing our exit process. Intracom Telecom will continue focusing on its expansion plan to serve more customers around the globe, addressing their telecom and ICT business needs with Company’s innovative products, solutions and services portfolio”.
Intracom Svyaz LLC was a subsidiary of the Intracom Telecom Group, since its establishment in 2002, while the Group has had a long-standing presence in the Russian Federation through its representative office in Moscow since 1998.