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ots Ad hoc-Service: AdCapital AG <DE0005214506> AdCapital invests in telecommunications company Fortel S.A.

Berlin (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
AdCapital has invested in the
French telecommunications provider Fortel a minority stake of 15 Mio.
Euro. In August this year, Fortel was granted one of two national
licenses for Wireless Local Loop (WLL) in France. WLL technology can
provide both voice telephony and broadband internet access. The
internet access offered by this system is many times faster than
France Telecom's DSL technology and enables video conferences among
other advantages.
Worldwide demand for broadband ( high-volume data transfer) is
tripling every year. The data highways are seeing major advancements
in technology aided by sizeable investments and progress in fiber
optic technology. The "last mile" is worldwide access to local end
users. This sector has traditionally been controlled by the former
national monopolies such as France Telecom. With WLL technology
smaller telecom providers can bypass the existing monopolistic
networks. The WLL licenses were distributed free of charge by the
French government in the middle of this year to two consortiums, one
of which is Fortel.
Fortel is targeting the mass market of private households and
small and medium-sized enterprises. To enable Fortel to cover at
least 85% of all French cities with more than 50,000 inhabitants by
end of 2004, Fortel's major shareholders will provide up to EUR 300
million. These shareholders include: UPC, Marine Wendel, alpha and
NRJ. The publicly traded company UPC, Europe's biggest cable network
operator with access to over 7 million cable customers, brings
industrial expertise and access to Chello, Europe's biggest broadband
internet portal. The other shareholders are alpha-Gruppe, one of the
most successful European private equity funds; Marine-Wendel, the big
French industrial corporation; and NRJ. NRJ, a publicly traded French
media group (Radio Energy), brings access to their transmission
network, a fundamental precondition for the fast roll-out planned.
At the start of 2001, Fortel will begin development of the
Wireless Local Loop and increase its turnover to 500 million Euro by
2005. EBITDA is forecast to move into positive territory by 2003.
Compared to the development of a fiber optic or UMTS network, the
investment costs required here are far lower, facilitating a highly
competitive offer.
About AdCapital AG To date, AdCapital has an investment volume of
over EUR 400 million. AdCapital's strategic focus is high-growth,
innovative enterprises from the new economy as well as medium-sized
enterprises involved in management buy- outs or needing equity
capital for new, future-oriented business models.
For more information please contact:
AdCapital AG Director, Corporate Communications Christiane
Schroiff 0175-724 66 58 cms@adcapital.de
End
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Original-Content von: AdCapital AG, übermittelt durch news aktuell

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