Telenor and Altimo Merged for New Markets

Telenor Group and Altimo (Alfa Group’s telecommunications company) announced an agreement to merge their interests in VimpelCom and Kyivstar GSM to create a new, leading growth market mobile operator.

The parties have come to an agreement to merge their interests in OSJC VimpelCom (børnotert on NYSE) and Kyivstar GSM in a new, joint owned mobile operator, VimpelCom, Ltd.. The combined company will provide high quality integrated telecommunication services in Russia, Ukraine and other CIS countries, as well as in Georgia, Vietnam, Cambodia and Laos. VimpelCom Ltd.. will seek to expand their operations to other rapidly growing markets in Europe, Asia and Africa, with the goal of becoming one of the leading players in the industry. VimpelCom Ltd.. is registered in Bermuda and will be headquartered in the Netherlands and will be listed on the New York Stock Exchange (NYSE). The main advantages of the proposed transaction include: Establishment of a leading growth market mobile operator, with substantial growth opportunities domestically and internationally.

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