This Day On The Street
Continue to site
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

VimpelCom Increases Its Stake In Russian Mobile Retailer Euroset To 50%

AMSTERDAM, Dec. 7, 2012 /PRNewswire/ --  "VimpelCom Ltd." ("VimpelCom", "Company" or "Group") (NYSE:VIP), a leading global provider of telecommunications services, today announces that its fully owned subsidiary in Russia, OJSC Vimpel-Communications, has acquired 0.1% of the shares of Euroset Holding N.V. ("Euroset") to increase its ownership interest to 50% of Euroset. The shares were issued by Euroset to OJSC VimpelCom subsidiary simultaneously with the acquisition of the other 50% of the shares of Euroset by Lefbord Investments Limited, a company owned by MegaFon and Garsdale Services Investment Ltd.  

As a result of these transactions, VimpelCom and Lefbord have equal economic and governance rights in Euroset. Previously, VimpelCom had a minority interest in Euroset with more limited governance rights. VimpelCom expects to continue to account for Euroset using the equity method.

Commenting on today's announcement, Anton Kudryashov, Chief Executive Officer of OJSC VimpelCom, said: "Euroset is a strategic partner for VimpelCom and a major distribution and customer service channel. This transaction is the next step in the process of building a more efficient and sustainable operational model between VimpelCom and the largest telecom retailer in Russia, which will help us to provide  better service to our customers".  

About VimpelCom

VimpelCom is one of the world's largest integrated telecommunications services operators providing voice and data services through a range of traditional and broadband mobile and fixed technologies in Russia, Italy, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic and Canada. VimpelCom's operations around the globe cover territory with a total population of approximately 780 million people. VimpelCom provides services under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink", "Leo", "banglalink", "Telecel", and "Djezzy" brands. As of September 30, 2012 VimpelCom had 212 million mobile subscribers on a combined basis. VimpelCom is traded on the New York Stock Exchange under the symbol (VIP). For more information visit: 

SOURCE VimpelCom Ltd.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs