Economy / Cambodia
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Vast Potential Awaits Vimpelcom In Cambodia
July 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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As part of its ongoing Asian expansion, Russia's number two mobile phone operator Vimpelcom has followed up its recent venture into Vietnam with the purchase of compatriot Altimo 's 90% stake in Cambodia's Sotelco for US$28mn. Having pledged to sink US$1bn into its newly acquired Vietnamese operations, Vimpelcom has now announced plans to invest around US$200mn in its Cambodian network within the first three-to-four years following its commercial launch, which is expected to take place in around nine months time, according to the company's Vice-President for business outside Russia Nikolai Pryanishnikov.