EBRD invests in Russian WiMax

The Norum venture fund, part of the European Bank for Reconstruction and Development, has decided to create a wireless broadband provider from Tascom. Tascom expand its operations to the Central and Northwest Regions of Russia. Here it will operate in cities with more than 1 million inhabitants. Additionally, a broadening of the corporate client base is also planned. According to an article in Kommersant, Norum investment director Alberto Morandi, stated that the fund would invest $15 million in the construction of a network and the acquisition of small regional operators. Norum has invested about $80 million in Russian companies since 1996. The fund will invest about $200 million more.