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Мы в СМИ09.02.2010 TOTAL TELECOM: VimpelCom drives Kyivstar merger forward with share-swap offerCompany needs 95% of shareholders to approve deal by 15 April to complete Kyivstar merger By Nick Wood Newly-created VimpelCom Ltd on Tuesday launched a share exchange offer for OAO VimpelCom, as part of Telenor's and Alfa Group's plan to merge their joint holdings in Russia's second-biggest mobile operator and Ukraine-based Kyivstar. 95% of OAO VimpelCom's minority shareholders need to accept the offer – which expires on 15 April – for the merger to go ahead. «The indications we've got so far are that the shareholders broadly support this deal,» said Alexander Izosimov, speaking to Total Telecom on Tuesday. Izosimov was selected by Telenor and Alfa in November 2009 to be the CEO of the new entity. A successful offer will then pave the way for VimpelCom Ltd to acquire all the outstanding shares of Kyivstar, resulting in the creation of a mobile provider with around 88 million customers spread across operations in Russia, Ukraine, the CIS and Southeast Asia. The two companies had combined pro forma revenues of $12.6 billion for the year ended 31 December 2008. Russian investment firm Metropol said in a research note that the merged operators would have a market capitalisation of around $22.8 billion. Under the terms of the tie-up, VimpelCom Ltd would be registered in Bermuda and headquartered in Amsterdam. Russia's government last week approved the merger, but Ukraine's Antimonopoly Committee has yet to give the deal the green light. «We held first round discussions but the talks have been delayed by the [Ukrainian] elections,» said Izosimov, who commented that he expects the deal to be given the go-ahead. He explained that combining Ukraine's biggest mobile operator by subscribers with VimpelCom will put the company in a powerful position in emerging markets. «By the end of the year there are expected to be 5 billion mobile subscribers globally, so the penetration game is nearing the end,» he said. As such, mobile operators in emerging markets will shift from acquiring new users to extracting as much value as possible from existing customers with new services. «The last two years has seen the propagation of HSPA networks and powerful new devices... there is a tsunami of demand for data [services],» said Izosimov. «Broadband penetration in Ukraine is still very low, it's about 10%, so it's a great growth opportunity for the company,» he said. Izosimov explained that, once merged, VimpelCom and Kyivstar will for the most part still operate independently from one another. «We will look into cross-border synergies. If there are opportunities to be captured the headquarters will play a coordinating role. Ukraine is a primary holiday destination for a lot of Russians so there could be some opportunities there,» he said.
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