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$US 4.2 billion merger in Russian communication sector
Published: 04 December, 2007, 08:22
Russia's second biggest mobile phone company is in talks to buy fixed-line giant Golden Telecom. VimpelCom is believed to ready to spend $US 4.2 billion on the Russian firm.
If the deal goes ahead, the company would be Russia's first integrated mobile and fixed-line provider.
On Monday the two firms said they were in talks.
Vimpelcom has offered $US 105 a share for Nasdaq-traded Golden Telecom, an internet, voice and data service provider. The figure is three and a half times the firm's closing price on November 30.
Co-head of research at Uralsib Financial Corporation, Konstantin Chernyshev, says the deal could bring Vympelcom “to a new level of development”.
“Such a deal will help Vympelcom to transform a mobile provider into a fully-integrated telecom provider, offering a wide range of telecom services, ranging from mobile to fixed local and long-distance communications,” Chernyshev said.
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