ADVERTISEMENT

VimpelCom buys 100% of Irkutsk-based subsidiary of Tele2

Deals

VimpelCom has bought 100% of shares in Corporation Severnaya Korona, a mobile operator based in Siberia’s Irkutsk Region, from Sweden’s Tele2 AB for $232 million, Russia’s second largest cellular operator said.

Severnaya Korona holds GSM 900/1800 and D-AMPS licenses covering the Irkutsk Region, home to about 2.5 million. The region has mobile phone penetration of around 108%. According to estimates of VimpelCom, which operates under the Beeline brand in Russia, Severnaya Korona had more than 571,000 subscribers at the end of June including over 3,000 D-AMPS clients, or 21.5% of the entire cell phone market in the Irkutsk Region.

Commenting on the acquisition, Nikolai Pryanishnikov, VimpelCom’s vice-president and general director for Russia, said: “The acquisition of CSK substantially enhances our position in Russia and expands the communications options available to existing and new subscribers. We plan to integrate the acquired company into VimpelCom’s network as soon as possible and offer the local population Beeline’s high level of service.” Following the acquisition of CSK, VimpelCom’s operating area covers 75 out of 85 administrative regions in Russia, the news release said. (rian.ru)

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.