97.87% of Vimpelcom shareholders approve merger with Kyivstar

21 Apr 2010

Reuters reports that 97.87% of Russian mobile operator Vimpelcom’s shareholders have approved its planned merger with Ukrainian cellco Kyivstar. The announcement this morning confirms that the necessary 95% shareholder approval level has been passed. ‘All conditions for successful completion of the exchange offer have now been satisfied,’ said Vimpelcom, which is controlled by Russia’s Alfa Group and Norway’s Telenor – also the joint owners of Kyivstar. Its statement continued: ‘The required approvals from the relevant regulatory authorities in Russia and Ukraine have been received and all legal and regulatory proceedings and enforcement actions in the Farimex case against Telenor [a minority shareholder lawsuit which had seen the Norwegian firm’s stake frozen by Russian bailiffs] have been withdrawn, without cost or loss to Telenor.’

Russia, Ukraine, Beeline (Russia), Kyivstar, Telenor Group, VEON