IDT Completes Corbina Sale

IDT completes the sale of Corbina Telecom to a private consortium for approximately $146M

March 3, 2006

1 Min Read

NEWARK, N.J. -- IDT Corporation (NYSE: IDT, IDT.C) today announced that it has sold its Corbina Telecom business to a consortium of institutional and private investors headed by Renova Capital, for approximately $146 million (U.S. Dollars). Corbina operates a licensed full-service telecommunications business in Russia, offering a broad range of services throughout the 24 largest industrial areas in the Russian market. Deutsche Bank advised IDT on the sale.


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