Vimpelcom sells 60% stake in Far East company to Golden Telecom


MOSCOW, September 22 (RIA Novosti) -Vimpelcom, a cell-phone service provider that operates under the Beeline brand in Russia and Kazakhstan, has sold 60% of Sakhalin Telecom to Golden Telecom, the company said in a press release Thursday.

The stake in Sakhalin Telecom, an alternative fixed-line operator in Russia's Far East, was sold to Golden Telecom subsidiary Sovintel for approximately $5 million.

Golden Telecom is the largest independent telecom and internet operator in the major cities of Russia and the Commonwealth of Independent States (a loose confederation of eleven former Soviet republics).

Golden Telecom now owns 83% of Sakhalin Telecom, the statement said.

Vimpelcom acquired the 60% stake in July, along with 84.4% of Sakhalin Telecom Mobile, from British company Cable and Wireless. Vimpelcom immediately announced its intention to resell its stake in Sakhalin Telecom, which it bought for around $5 million.

To participate in the discussion
log in or register
Заголовок открываемого материала