Vimpelcom to enter Tajikistan

3 Jan 2006

Russian mobile group Vimpelcom is continuing its aggressive overseas expansion with the purchase of a majority stake in Tajik mobile operator Tacom LLC. Vimpelcom has agreed to pay USD12 million for a 60% stake in Tacom, which holds licences to provide GSM-900/1800, CDMA-450 and AMPS services across Tajikistan, as well as the country’s third UMTS concession, received in September 2005. Vimpelcom plans to offer services under the Beeline brand it employs in Russia, Kazakhstan and Ukraine. ‘Given the latest economic performance of the country and penetration rate of only 4% we see good growth opportunities in Tajikistan,’ Alexander Izosimov, Vimpelcom’s chief executive, said in a statement. Under the deal Vimpelcom has first refusal on the remaining 40% holding, the bulk of which is reportedly controlled by the chairman of Orienbank, the largest bank in Tajikistan.

Tajikistan, Beeline (Russia)