Experience

Cross-Border Telecom Acquisition

VimpelCom

Chadbourne represented Vimpel-Communications (VimpelCom, NYSE: VIP) in an agreement with Hellenic Telecommunications Organization to acquire 90% of CJSC Armenia Telephone Company (Armentel) for a purchase price of €341.9 million ($434.3 million) plus the assumption of approximately €40 million ($50.8 million) in net debt and obligations.

Armentel is a fixed-line and mobile operator in Armenia with licenses in the GSM-900 and CDMA standards and a subscriber base that includes approximately 600,000 fixed-line subscribers and 400,000 GSM subscribers.

The VimpelCom Group includes cellular companies operating in Russia and Kazakhstan and recently acquired cellular operators in Ukraine, Tajikistan, Uzbekistan and Georgia. The VimpelCom Group's cellular license portfolio covers a territory with a population of about 237 million. Geographically it covers 78 regions in Russia (with 136.5 million people, representing 94% of Russia’s population) as well as the entire territories of Kazakhstan, Ukraine, Uzbekistan, Tajikistan and Georgia.