18 Aug 2009 07:00
Date: 18 August 2009
On behalf of: Avanti Communications Group plc ("Avanti" or "the 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 3,354,412 ordinary shares in Avanti Communications, being approximately 8.01% 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 new satellite broadband products in Europe is estimated at more than 70 million subscribers.
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.