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Vimpelcom Enters Ukraine.

Vimpelcom Enters Ukraine.

11 November 2008

The Russian mobile operator Vimpelcom (VIP) has purchased Ukrainian Radio Systems (URS) for USD 230 mln. No official information from VIP is available. Concorde Capital: URS will be used as a launching pad for Vimpelcom?s future expansion in Ukraine (as it has GSM licenses and networks in major Ukrainian cities). As a company alone, URS is of little interest to VIP as it has only about 0.1 mln mobile subscribers. URS posted USD 4 mln in sales and USD 24 mln net losses in 2004.

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