Russia’s Renova Media is reported to have received two credits totalling R6 billion (€84.2 million) from Sberbank. The money has been earmarked for future investment, and in particular the Moscow broadband operation ComCor-TV, which operates under the brand name Akado. Renova Media was founded in 2006 and lists Victor Vekselberg as its principal shareholder. It has interests in Moscow, St Petersburg, Yekaterinburg and the Belarusian capital, Minsk. Sergei Alimbekov, ComCor-TV’s DG, has said that up to R4 billion may be spent on developing the company itself, doubling its coverage in Moscow to 3 million homes in 2008.
