Vimpelcom to buy rest of Corbina

30 May 2008

Vimpelcom is mulling the purchase of the remaining 49% of shares in Moscow-based fibre-to-the-home (FTTH) broadband provider Corbina Telecom that it does not already own for a price in excess of USD400 million, reports local newspaper Kommersant, citing sources close to the cellco and a bank organising the deal. Earlier this year Russia’s second largest mobile network operator completed the USD4.3 billion purchase of fixed line and broadband provider Golden Telecom, which owns 51% of Corbina; the remainder is controlled by businessman Alexander Mamut. A source close to Mamut was quoted by Kommersant as saying, ‘An agreement in principle to sell Corbina has been reached, and I do not rule out the deal will be closed within the next two to three months.’

Russia, Beeline (Russia), VEON