Vimpelcom Ltd to look for acquisitions post-merger

19 Feb 2010

According to a report by Reuters, Vimpelcom Ltd has reiterated its intention to pursue further acquisitions following the completion of its merger with Ukrainian cellco Kyivstar. Company CEO Alexander Izosimov said: ‘We will be looking for possibilities to add to our portfolio. We’ll look at companies of a similar size.’ Izosimov also told reporters at the Mobile World Congress that initial reaction to the company’s share exchange offer has been positive and that the merger remains on track. He added: ‘It seems that everybody believes strategically it’s a good move. The challenge will be more logistical, how to make people go and execute (the offer) because our threshold is pretty high.’ As reported by CommsUpdate on 10 February 2010, Vimplecom asked investors in the Russian cellco to exchange their holdings for shares in the newly merged entity, Vimpelcom Ltd, or a nominal cash payment. Vimpelcom plans to complete the share exchange by April 2010, after which the merger will require approval from Ukrainian regulators.

Russia, Beeline (Russia), Kyivstar, VEON