VimpelCom Offers To Buy Kyivstar.

Russian mobile telecommunication operator VimpelCom (VIP) confirmed that last week it sent an offer to both Telenor and Altimo (the telecom subsidiary of Alfa Group) to acquire 100% of Kyivstar for USD 5 bln in VimpelCom common registered shares plus the assumption of debt. VimpelCom believes that the proposed acquisition of Kyivstar would create significant value for the shareholders of VimpelCom. Concorde Capital: If Telenor sells its stake in Kyivstar it would lose control over both Kyivstar (the company would lose its controling stake) and Vimplecom (where Telenor does not have control). In addition, currently, Telenor consolidates Kyivstar in its financial reports. Both these facts mean that Telenor is unlikely to sell Kyivstar to VIP, unless it is guaranteed the right to purchase a controlling stake in VIP.