Vimpelcom acquired 90.5% of outstanding Golden shares

19 Feb 2008

Russian cellco Vimpelcom has reported that 36.53 million common shares or 90.5% of the outstanding shares of Russian and CIS telco Golden Telecom have been tendered after the expiry of the initial USD105 per share cash tender offer launched last month by its subsidiary Lillian Acquisition. Vimpelcom also announced that its subsidiary will immediately commence a secondary offer for the remaining shares that will expire on 26 February. Prior to the takeover bid, Golden Telecom was owned by Altimo, the telecoms arm of Russia’s Alfa Group (26.6%), Norway’s Telenor (18.3%), Rostelecom (11%) and Inure (7.9%), with the remaining 36.2% in free float. Alfa and Telenor are major shareholders in Vimpelcom.

Russia, Beeline (Russia), VEON