Vimpelcom discloses that its 40% owned Vietnamese subsidiary GTEL-Mobile has received a GSM concession and associated frequencies. According to CEO of Vimpelcom, the registration of GTEL-Mobile and the receipt of the GSM licence and frequencies is the key milestone in the building of our Vietnamese business. With this we have crossed the major hurdle now we can focus all our efforts on the network launch and the preparation of the commercial launch, he added.
Wireless Federation » archive for 'GTel Mobile'
GTEL-Mobile receives GSM concession & associated frequencies (Vietnam)
- September 26th, 2008
- 5:29 am
Vimpelcom sets up mobile venture in Vietnam (Russia)
- September 12th, 2007
- 10:33 am
Russia’s No.2 mobile phone operator Vimpelcom (VIP.N: Quote, Profile, Research) is to set up a mobile services joint venture in Vietnam and will invest up to $1 billion in a GSM mobile network there over the next few years.
Vimpelcom said in a statement on Wednesday it would only hold minority voting rights in the venture, GTel Mobile, in line with Vietnamese law, but under the deal will be entitled to the majority of profits.
The venture will be the first expansion step by Vimpelcom outside Russia and the CIS, the home market for the telecoms major, which is looking to diversify at a time when mobile telecoms markets of Russia and Ukraine are close to saturation.
“Vietnam is a very attractive market, with a growing population of approximately 85 million people and mobile penetration of approximately 32 percent,” said Chief Executive Officer Alexander Izosimov.
Vimpelcom said a company owned by the Ministry of Public Security of Vietnam and U.S. Millennium Global Solutions Group Inc. would be its partners in the joint venture.
Vimpelcom, which operates under the Beeline brand, is owned by Russia’s Alfa Group and Norway’s Telenor
