VIMPELCOM ACQUIRES 49.9% OF EUROSET’S SHARES
Noyan Tapan
Oct 28, 2008
MOSCOW, OCTOBER 28, NOYAN TAPAN. Vimpelcom OJSC has acquired 49.9%
of the shares of Morefront Holdings Ltd. – the owner of 100% of
Euroset group’s shares – from Rambert Management Ltd, Noyan Tapan
was informed by the PR Service of Vimplecom company.
The cost of the transaction made about 226 million dollars. As a
minority shareholder, Vimplecom does not plan to consolidate Euroset’s
assets and guarantee its liabilities. Within the framework of the
deal, Vimplecom has agreed on the purchase and sale option regarding
another 25% of Morefront Holdings’ shares in three years.
To recap, Vimplecom is the 100% shareholder of ArmenTel company’s
shares.
Euroset is the biggest company conducting retail trade in the mobile
phone market. It has a network of shops in Yerevan as well.