Vimpelcom reorganises Ukraine assets; Kyivstar holds 100% of URS

9 Oct 2012

Ukrainian mobile and fibre network operator Kyivstar has taken a direct 100% ownership stake in its sister company in the Vimpelcom group, Ukrainian Radio Systems (URS). URS and another sister operation Golden Telecom (Ukraine), had previously been integrated, firstly with each other and subsequently with Kyivstar, the country’s largest cellco by subscribers and itself a wholly owned part of Vimpelcom, with the two smaller divisions’ customer bases and ‘Beeline’ branded services transferred under the Kyivstar brand and management. The transaction involved Kyivstar’s Cyprus-based affiliate companies Wintop Management, Cradel Investments, Cellcroft Holdings, Crayola Properties and Crisden Holdings, each selling their 20% stakes in URS, according to a disclosure from URS to the National Commission for Securities and the Stock Market, as reported by the Kyiv Post. Prior to the latest reorganisation, Kyivstar did not directly hold any URS shares.

Ukraine, Kyivstar, Beeline Ukraine (incl. Golden Telecom),


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