A Change of Guard

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Wednesday 9 July 2008

Vimpelcom buys Cambodia's Sotelco - source

MOSCOW, July 8 (Reuters) - Vimpelcom (VIP.N: Quote, Profile, Research), Russia's second-largest phone operator bought Cambodia's Sotelco, a source told Reuters on Tuesday. Altimo, the telecommunications investment arm of Russia's Alfa Group, owns a 44 percent stake in Vimpelcom. Norway's Telenor (TEL.OL: Quote, Profile, Research) owns 29.9 percent.

Sotelco would be sold to Vimpelcom for $28 million, Russian business daily Vedomosti reported, citing sources close to Alfa.

Vimplcom declined to comment. (Reporting by Anastasia Teterevleva; Writing by Amie Ferris-Rotman; Editing by Erica Billingham)

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