VimpelCom acquires Cambodian operator Sotelco

Russian and CIS mobile operator VimpelCom has acquired a 90 percent stake in the Cambodian operator Sotelco, which owns a GSM 900/1800 licence and related frequencies for the local market. VimpelCom's largest shareholder Altimo has acquired the majority stake in Sotelco's parent company, Atlas Trade Limited, for USD 28 million. The remaining 10 percent of Atlas will remain with a local partner, a Cambodian entrepreneur. In addition, VimpelCom has acquired a call option to purchase the 10 percent interest from the local partner.