VimpelCom has welcomed the approval by the Antimonopoly Committee of Ukraine (AMC) of the establishment of VimpelCom Ltd. by the Telenor Group and Altimo, combining their common assets in OJSC VimpelCom and Kyivstar.
At its panel meeting on 9 March 2010, the AMC granted approval of the transaction combining Telenor Group's and Altimo's existing shareholdings in OJSC VimpelCom and Kyivstar under a single holding structure, VimpelCom Ltd. The AMC has confirmed by its decision that the transaction will not result in monopoly conditions or any significant restriction of competition in the relevant telecommunications markets in Ukraine. This clearance followed a review by the AMC that focused on the implications of the proposed combination of the Ukrainian mobile operators Kyivstar and URS/Golden Telecom (the Ukrainian subsidiaries of OJSC VimpelCom) within the new structure of VimpelCom Ltd.
Commenting on the AMC's decision, Alexander Izosimov, CEO of VimpelCom Ltd., said; "Regulatory approval in Ukraine is another critical step towards completing the transaction and establishing VimpelCom Ltd. as a leading value creation platform in global emerging markets telecoms. It means we will now be able to fully realize the potential for synergies in Ukraine through the full integration of the local OJSC VimpelCom and Kyivstar businesses."