Tuesday, September 11, 2007

Russia's VimpelCom to Build Joint Venture GSM Network in Vietnam

VimpelCom, which operates mobile networks in Russia, Kazakhstan, Ukraine, Uzbekistan and Tajikistan, executed a Principal Agreement to establish a mobile telecommunications joint venture in Vietnam under the name of GTel Mobile. VimpelCom expects to invest up to $1 billion over the next several years in the development of a GSM mobile network and provide technical and operational expertise to the joint venture.



The other participants in the joint venture will be a company owned by the Ministry of Public Security of Vietnam and Millennium Global Solutions Group, Inc., a U.S. company. In accordance with Vietnamese investment laws, VimpelCom will own a minority voting stake in the joint venture.

http://www.vimpelcom.com

  • As of March 31, 2007, VimpelCom's total number of subscribers in Russia and the CIS was 56.8 million (45.8 million of them are active, including 38.6 million in Russia, 3.5 million in Kazakhstan and 2.0 million in Ukraine).

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