This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

OJSC VimpelCom Wins LTE License In Russia

AMSTERDAM, July 12, 2012 /PRNewswire/ -- "VimpelCom Ltd" ("VimpelCom", "Company" or "Group") (NYSE: VIP), a leading global provider of telecommunications services, today announces that its wholly owned subsidiary in Russia, OJSC "Vimpel-Communications" ("OJSC VimpelCom") has been awarded a license to provide services over the LTE standard in Russia. An English translation of the press release published today by OJSC VimpelCom follows:

Moscow, July 12, 2012. OJSC VimpelCom (TM "Beeline") is pleased to announce that according to the official information of Roskomnadzor, the Russian Federal Service for Supervision of Communications, Information Technology and Mass Media, VimpelCom is among the winners of today's contest for four LTE licenses to render services using radio-electronic devices in the territory of the Russian Federation. The licenses allow the winning companies to provide services via networks that use the LTE standard and its further modifications within the frequency band of 791-862 MHz.

VimpelCom has won one of four licenses awarded in the contest. The company has been granted the license to render services within the radio frequency band of 813.5-821/854.5-862MHz across the Russian territory.

As a condition of the licence, VimpelCom will start providing services no later than June 1, 2013. The rollout of the network using the LTE standard and its further modifications within the frequency band of 791-862, 2500-2690, 720-750 & 761-791 MHz ranges within the territory of the Russian Federation will be as follows*:

- in 6 regions by the end of 2013;- in 12 regions by the end of 2014;- in 20 regions by the end of 2015;- in 30 regions by the end of 2016;- in 50 regions by the end of 2017;- in 60 regions by the end of 2018;- Full coverage the Russian Federation by the end of 2019.

A further condition of the licence award is that each winner will invest at least RUR 15 BLN annually until its federal LTE network is built (the federal LTE network must be built within 7 years, starting from 2013).

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs