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Russia’s Vimpel, Vietnam’s GTEL form JV

Competition

Russian telecommunications provider Vimpel-Communications said Tuesday it will invest $267 million to establish a mobile telecommunications joint venture in Vietnam called GTEL-Mobile.

Global Telecommunications Corp., a Vietnamese state-owned business, and its subsidiary GTEL TSC, are VimpelCom’s partners in the venture. VimpelCom will receive a 40% interest in GTEL-Mobile, while Global Telecommunications will hold a 51% interest and GTEL will own a 9% interest. (people.com.cn)

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