RNS Number : 2908V
Avanti Communications Group Plc
07 July 2009
Date: Tuesday 7 July 2009
On behalf of: Avanti Communications Group plc ('Avanti' or 'the Company')
Avanti Communications Group plc
Avanti Communications Group Plc (AIM: AVN), the broadband satellite operator, announces that it has today received notification from Caledonia Investments plc that it now holds 9,473,956 ordinary shares in Avanti Communications, being approximately 22.62% of the issued ordinary share capital of the Company.
Notes to Editors:
About Avanti Communications
Avanti's first satellite, called HYLAS is under construction and will be the first superfast broadband satellite launched in Europe.
The market for satellite broadband products in Europe is estimated by the EU at more than 24 million.
Avanti currently provides satellite broadband services to customers in Europe using leased satellite capacity which it will transfer to HYLAS on launch.
The European Commission has set aside funding for rural broadband projects in 79 regions across Europe with a total value of €2.8 billion over the next five years.
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