Vimpelcom repurchases Unitel stake

29 Sep 2009

Vimpelcom has completed the repurchase of a 33.3% stake in Freevale Enterprises Inc, a holding company owning 21% of Uzbekistan-based cellco Unitel, for USD57.5 million, giving the Russian cellular group 100% ownership of its Uzbeki subsidiary once again.

According to TeleGeography’s GlobalComms database Unitel was previously owned by two wholly owned Vimpelcom subsidiaries: Silkway Holdings (79%) and Freevale Enterprises (21%). In April 2007 Vimpelcom agreed to sell 33.3% of Freevale Enterprises (equivalent to a 7% stake in Unitel) to an unnamed buyer – rumoured to be someone connected to the Uzbeki government – for USD20 million. The deal lowered Vimpelcom’s stake in the cellco to 93% as of 14 July 2007.

At the end of June 2009 Unitel claimed a 25% share of the Uzbeki wireless market, with 3.6 million subscribers, compared to MTS’s 45% and Ucell’s 27%.

Uzbekistan,Beeline (Russia), Beeline (Unitel), VEON (formerly VimpelCom),

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share