VimpelCom Lao Co., Ltd formerly known as Millicom Lao Co., Ltd (Tigo), on March 9,2011 officially announced that “VimpelCom Ltd.” (“VimpelCom” or the “Company”) (NYSE: VIP), a leading international provider of telecommunications completed its acquisition of Millicom Laos Co., Ltd. VimpelCom now owns 78% and the remaining 22% owned by the Government of the Lao PDR.
Alexander Izosimov, Chief Executive Officer of VimpelCom, commented: “We are pleased to announce the closing of our transaction in Laos. South-East Asia remains an important part of VimpelCom’s international expansion strategy. The telecommunications market in South-East Asia has considerable potential, and we are confident in our ability to take advantage of the opportunities this region has to offer”.
VimpelCom Ltd. consists of telecommunications operators providing voice and data services through a range of wireless, fixed and broadband technologies. The VimpelCom Ltd. group is headquartered in Amsterdam and has operations in 19 countries including Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikstan, Georgia, Armenia, Kyrgyzstan, Vietnam, Laos and Cambodia, covering territory with a total population of nearly 868 million.
The Company provides services under 11 brands including “Beeline”, “Kyivstar”, “djuice”, “Wind”, “Infostrada”, “Mobilink”, “Leo”, “Banglalink”, “Telecel”, and “Djezzy” brands. As of March 31, 2011 VimpelCom had 186 million mobile subscribers. VimpelCom is trade on the New York Stock Exchange under the symbol “VIP”.