Golden Telecom, VimpelCom in merger talks

By Lisa Kerner

Charlotte, N.C., Dec. 3 - Golden Telecom Inc. said it is in discussions with OJSC Vimpel-Communications regarding the potential acquisition of Golden Telecom's outstanding shares by a subsidiary of VimpelCom for $105 per share in cash, according to a joint news release issued on Monday.

Any deal would be subject to negotiation, execution of a definitive acquisition agreement and final approval by both companies' boards of directors.

Golden Telecom and VimpelCom noted there is no assurance that the discussions will lead to an agreement or a transaction. No further comments will be made until either a definitive agreement has been reached or discussions have been terminated, according to the release.

VimpelCom is a Moscow-based wireless telecommunications services company. Golden Telecom, also based in Moscow, provides telecommunications and internet services in Russia and other countries of the Commonwealth of Independent States.

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