Seven-pronged Vimpelcom merger given the all-clear

2 Feb 2012

Russian telecoms giant Vimpelcom has been approved to merge with a total of seven regional subsidiaries that the telco has acquired gradually since 2008. The Federal Antimonopoly Service (FAS) endorsed the consolidation plans back in November 2011, but Vimpelcom was forced to wait until an extraordinary shareholder meeting on 31 January for boardroom approval of the large-scale merger. Previously, the FAS granted Vimpelcom permission to absorb the smaller players into its central operation, with the companies listed as: Altaigrif (which is based in Barnaul), Agentstvo Delovoy Svyazi (Nizhniy Novgorod), Informtechnology (Cheboksary), Belgorodskiye Tsifroviye Magistrali (Belgorod), SeverransCom (Yaroslavl), PolarCom and Eltel (both Murmansk). Going forward, Vimpelcom shareholders are set to reconvene on 28 February for a second extraordinary shareholder meeting of 2012, this time aimed at electing a new board of directors.

Russia, Beeline (Russia)