VimpelCom Ltd. announced the commencement of its exchange offer to holders of shares and American Depositary Shares or ADSs of Open Joint Stock Company "Vimpel-Communications" (VIP), in which it would offer depositary shares representing VimpelCom Ltd. shares or "DRs" or a nominal cash amount in exchange for OJSC VimpelCom securities.
Following the completion of the Exchange Offer, VimpelCom Ltd. plans to purchase all of the outstanding shares of Closed Joint Stock Company "Kyivstar G.S.M." in exchange for VimpelCom Ltd. DRs.
Key benefits of the transaction for shareholders of OJSC VimpelCom include Ownership of Kyivstar, improved strategic profile with potential for operational improvements and efficiencies, creation of a robust corporate and governance structure, committed policy to pay regular and meaningful dividends and strong platform to unlock future growth and shareholder value creation.
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