Companies / Vietnam
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VimpelCom Finalises On Vietnam JV Operations
July 2008 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Russia's second-ranked mobile operator VimpelCom has signed and finalised a Joint Venture and Shareholders Agreement with Vietnamese state-owned companies to launch a mobile service provider in Vietnam under the name of GTEL-Mobile. The Russian operator secured a 40% stake in the joint venture at a cost of US$267mn, with Global Telecommunications Corporation (GTEL) and its unit GTEL TSC acquiring respective stakes of 51% and 9%. VimpelCom, however, has expressed an interest to raise its existing shareholding in the operator by purchasing a further 9% from its Vietnamese partners, for which it has pre-emptive rights.