Wireless Business

VelaTel Global Communications Inc.: VelaTel to Deploy and Expand Wireless Broadband Networks in Croatia and Montenegro (Market Wire)

SAN DIEGO, CA (MARKET WIRE) US-based VelaTel Global Communications (OTCQB:
VELA) (PINKSHEETS: VELA) (VelaTel), a leader in deploying and operating
wireless broadband and telecommunication networks worldwide, today announced
it has entered into a Business Cooperation Agreement with the shareholders of
Herlong Investments Limited to acquire a 75% controlling interest in Herlong
and its operating subsidiaries, Novi-Net, d.o.o. and Montenegro Connect,
d.o.o. The transaction is expected to close the first week of January 2012 to
allow sufficient time for VelaTel’s auditors to conduct the work needed to
report the financial

Market Wire

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