Thursday, September 17, 2009

Vimplecom expands to SE Asia.

MOSCOW, Sept 16 (Reuters) - Vimpelcom, Russia’s No.2 mobile phone operator, said on Wednesday it had agreed to buy Luxembourg-based telecom operator Millicom’s assets in Laos in a further move to expand in South-Eastern Asia.

Vimpelcom, which already operates in neighbouring Vietnam and Cambodia, said in a statement it would buy a 78 percent stake in Millicom Lao from Millicom Holding B.V. and Cameroon Holdings B.V. for about $66 million.

"Vimpelcom’s entry into Laos is the next logical step in our international expansion strategy. Laos provides a great complement to our existing operations in Vietnam and Cambodia and fits perfectly into our strategy of building a solid Southeast Asian cluster," Chief Executive Boris Nemsic said.

"The growth potential in Laos is attractive, with a population of 6.5 million people and low mobile penetration estimated at around 23 percent." The company said that completion of the acquisition was subject to regulatory approval which was expected before the end of 2009.

The remaining 22 percent stake is owned by the government of Laos. Millicom said in a separate statement the deal valued the entire Laos operation at an enterprise value of about $102 million, which represents 7.5x estimated 2009 EBITDA.

Vimpelcom’s New-York listed stock was trading up 0.75 percent at $17.50 by 1538 GMT.


Anonymous said...

Vimplecom 是不是 Telenor 的公司??

Beautiful Tonight said...

yeah. Vimplecom is partly invested by Telenor...

Been to Vietnam and saw fewer dealers wanna sell Beeline (Vimplecom's mobile service brand at Vietnam and Cambodia)..

Compare with Mobikom, Viettel and Vinaphone, Beeline offer the lowest rate of voice, sms and int'l voice. I tried to buy Beeline but hardly see any dealer has stock.. Only saw 1 in 30 shops..

Vimplecom is a dynamic company. I wonder if Malaysia has Vimplecom come in... hehe

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