Golden Telecom stockholders tender more than 38 million shares in VimpelCom's offer

By Lisa Kerner

Charlotte, N.C., Feb. 27 - Vimpel-Communications completed its subsequent offer period for all of the outstanding shares of common stock of Golden Telecom, Inc. as planned on Tuesday.

Golden Telecom stockholders tendered a total of 38,093,677, or some 94.4%, of the company's common stock during the initial and subsequent offering periods.

VimpelCom Finance BV, a direct wholly owned subsidiary of VimpelCom, and Lillian Acquisition, Inc. plan to complete a short-form merger "as soon as practicable," a company news release stated.

Lillian Acquisition will be merged into Golden Telecom and all remaining stockholders of Golden Telecom will receive the same $105 cash per share paid in the tender offer.

In December, the companies announced that VimpelCom would acquire Golden Telecom for $4.3 billion in a move that would boost VimpelCom's presence in the broadband, data and mobile markets.

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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