"The Ukrainian Gambit" VimpelCom "

"The Ukrainian Gambit" VimpelCom " VimpelCom has announced it is buying 100% stake in the operator Ukrainian Radio Systems (URS, provides services under the brand name WellCom). On the proposed acquisition of Ukrainian operator, we wrote back in March. The process of closing stretches for 14 months because of disagreement company Telenor - one of the major shareholders in VimpelCom (26,6% of shares). Originally, the deal was supposed to conclude in April, the delay was more than six months. Nevertheless, the final decision to buy was made at a special September meeting of shareholders of VimpelCom and evening, Nov. 10 deal was closed. The total purchase price amounts to 231.3 million U.S. dollars. Price includes cost of purchase is equal to 206.5 million dollars, plus the costs of URS in the amount of 24.8 million U.S. dollars from the purchase date VimpelCom option. VimpelCom has also accepted the obligation on the debt of URS in the amount of approximately 23.5 million dollars, according to the General Director of VimpelCom Alexander Izosimov this debt will be restructured.