VimpelCom sells Vietnamese assets

VimpelCom is divesting its interest in the Vietnamese operator GTEL Mobile, selling its 49% holding to GTEL’s parent company. The operator will drop the VimpelCom-owned Beeline brand after a transition period of six months.

Jo Lunder , VimpelCom CEO, said: "We have previously outlined our Value Agenda, within which all of our operations are reviewed to assess their future value to the Group. The decision to dispose of our interest in GTEL Mobile is a result of this process, which focuses on allocating capital to those markets where we see the best opportunities to generate shareholder value."

The international group will have “no further obligations or liabilities” to the Vietnamese operator following the sale. Although GTEL Mobile was not able to obtain any 3G licences during the 2009 auctions, it has used discount tariffs and handsets to stay competitive, growing to attain a 3% market share with 3.8 million connections in Q1 2012.

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