(AVN.L) Avanti Communications Group PLC Buy/Sell

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(RNS) 2009-09-29 14:00 Avanti Comms Group - Holding(s) in Company
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RNS Number : 8635Z Avanti Communications Group Plc 29 September 2009 `Date: 29 September 2009` On behalf of: Avanti Communications Group plc ("Avanti" or "the Company") Avanti Communications Group plc Holdings in Company Avanti Communications Group Plc (AIM: AVN), the broadband satellite operator, announces that it has today received notification from Avenue Europe Management LLP that it now holds 3,188,717 ordinary shares in Avanti Communications, being approximately 7.61% of the issued ordinary share capital of the Company. Enquiries to: Avanti Communications Group plc http://www.avanti-communications.com/ `David Williams / Nigel Fox 020 7749 1600` `Redleaf Communications Ltd avanti@redleafpr.com` `Samantha Robbins / Paul Dulieu 020 7566 6700` Cenkos Securities `Ivonne Cantu / Julian Morse 020 7678 8000` Notes to Editors: About Avanti Communications AVANTI SELLS SATELLITE BROADBAND SERVICES TO TELECOMS COMPANIES WHICH USE THEM TO SUPPLY HOMES AND BUSINESSES. AVANTI'S FIRST SATELLITE, CALLED HYLAS IS UNDER CONSTRUCTION AND WILL BE THE FIRST SUPERFAST BROADBAND SATELLITE LAUNCHED IN EUROPE. THE MARKET FOR 2MB SATELLITE BROADBAND PRODUCTS IN EUROPE IS ESTIMATED AT MORE THAN 70 MILLION HOUSEHOLDS. 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 EUR2.8 BILLION OVER THE NEXT FIVE YEARS. This information is provided by RNS The company news service from the London Stock Exchange END HOLEAFNNASANEFE
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