The sale of Golden Telecom to VimpelCom, creating in the process what will be the leading telecom company in Russia, has moved a stage closer. Local reports indicate that Rostelcom has agreed to sell its 11% stake in Golden Telecom to VimpelCom, the country’s second largest mobile operator. With most other leading shareholders, including Alfa Group and Telenor, having already done so, VimpelCom now effectively has a controlling 63.3% stake in Golden Telecom. Earlier this week, VimpelCom secured a $3.5 billion (€2.4 billion) syndicated loan to help in the $4.3 billion acquisition.
