VimpelCom acquired a 90% stake in STC

VimpelCom announced the acquisition of 90% shares of JSC "New Telephone Company (NTC). The first stage of the transaction took place a month after reaching a final agreement to acquire 100% stake in STC. The remaining 10% stake will be acquired under the mandatory offer, sent to the shareholders of society.

Projected date of closing of the second phase of the deal - 3 quarter of 2011 in accordance with the terms of the signed documents VimpelCom acquires 100% stake in STC, based on assessment of the company's debt-free basis of $ 420 million U.S. dollars. The main shareholders are the company NTC CT Corporation and Summit Telecom Global Management BV, a subsidiary of Sumitomo Corporation.

According to the company, NTC is a leading player in the telecom market of Primorsky Territory and provides a full range of telecommunications services - mobile and fixed telephony, broadband Internet, IPTV, and IP-telephony. The company estimates that revenues of the STC in 2010 amounted to approximately 3,4 billion rubles, and the subscriber base in the mobile segment in late 2010 - about 950 thousand subscribers.