Russian cellular phone operator OAO Vimpel Communications says shareholders of Golden Telecom have overwhelmingly accepted its buyout offer in a deal worth more than US$4 billion.
Vimpelcom, as the company is commonly known, said the holders of more than 90 per cent of Golden Telecoms shares had accepted its offer of US$105 per share. Goldens shares closed at US$104.34 on the U.S. NASDAQ on Friday.
Vimpelcom, which is listed on the New York Stock Exchange, provides wireless phone service in Russia, Ukraine and five other former Soviet republics in the Commonwealth of Independent States. Golden Telecom offers fixedline phone and Internet services in major Russian cities.
The transaction truly transforms Vimpelcom into a leading integrated telecom operator in Russia and the CIS with established positions in rapidly growing broadband, data and mobile markets, CEO Alexander Izosimov said in a statement.
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