MOSCOW-An announcement by Russian operator VimpelCom today could potentially change the landscape of the Russian mobile market. VimpelCom said it agreed that its major shareholder, Alfa Group, would buy an indirect 25.1-percent stake in VimpelCom rival MegaFon.
“The consent contemplates that the parties will explore a possible business combination between MegaFon and VimpelCom in the future,” VimpelCom said.
VimpelCom and MegaFon are two of the three nationwide operators in Russia. VimpelCom is owned 29 percent by Norway’s Telenor, and TeliaSonera holds a 25-percent stake in MegaFon. Mobile TeleSystems is the third nationwide operator.
MTS is the country’s largest operator with nearly 10 million subscribers. VimpelCom has nearly 8 million customers, followed by MegaFon, which began service during the past year, with more than 4.6 million subscribers.
VimpelCom also beat market expectations with its second-quarter results, released today. The operator reported net operating revenue of $304.4 million, a 75.6-percent increase from the $173.4 million the operator reported for the same period last year.
