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Telenor is a Norway-based provider of mobile communications services, while Kyivstar is a Ukraine-based provider of mobile communication services. ALTIMO is a Russian investment company in the field of mobile and fixed-line communications.
As part of the transaction, VimpelCom, Ltd. intends to make an offer whereby OJSC VimpelCom shares will be exchanged for depositary receipts representing shares in VimpelCom, Ltd. Following the successful completion of the exchange offer, Telenor and Altimo will contribute their respective shareholdings in Kyivstar in exchange for shares in VimpelCom, Ltd. The parties expect to complete the proposed exchange offer and the other related transactions by middle of year 2010.
When Telenor and Altimo contribute their Kyivstar shares to VimpelCom, Ltd., the effective exchange ratio will be 28.22 VimpelCom, Ltd. shares for each Kyivstar share.
Rumor (June 25, 2009):
According to The Moscow Times, Russian business daily Vedomosti reported that Russian telecommunications operator OJSC VimpelCom is planning to merge with Kyivstar.
Reportedly, Alfa Groups' telecom vehicles Altimo and Telenor may each receive a 40% stake of the merged company, with the various VimpelCom minority shareholders holding the additional shares.
Rothschild is acting as financial advisor to Telenor.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2009-10-05
Deal Participants
Target (Company) CJSC Kyivstar GSM Acquirer (Company) VimpelCom, Ltd. Vendor 1 (Company) Telenor ASA Vendor 2 (Company) ALTIMO
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