VimpelCom to buy remaining 49% of Corbina Telecom for $404m

Russian mobile phone operator OAO Vimpel Communications has agreed to acquire the remaining 49% stake in Corbina Telecom from Inure Enterprises for about $404 million.

Vimpel Communications said its wholly-owned indirect subsidiary, OOO EDN Sovintel, already owns 51% of Corbina Telecom.

The company said that the purchase of the minority stake in Corbina Telecom is a logical step in the execution of its strategy to build an integrated Russian telecoms operator.

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