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VimpelCom to Raise $800m This Year
VimpelCom is going to raise roughly $800 million this year, Interfax-Telecom reported.
According to files of VimpelCom, the company will probably have to raise roughly $800 million on Russian and/or foreign equity markets and/or as the bank loans to implement its program of capital spending, make scheduled payments under the loans and for possible acquisition of new assets in 2007.
The exact amount of borrowing will depend on the growth of subscriber base, rates of network construction, potential acquisitions as well as on the growth in revenues and ARPU. It could be more than $800 million if some big deals are clinched, VimpelCom makes clear in its files.
The 2007 capital costs of the company are estimated at roughly $1.5 billion (equal to 2006). The operator also intends to invest $300 million to $350 million in constructing the 3G networks in 2007 to 2008.
As of late 2006, VimpelCom indebtedness amounted to $2,489.4 million, including bank loans of $921.7 million and eurobonds of $1,417.2 million.
VimpelCom is Russia’s number two mobile leader. Its key holders are Norwegian phone group Telenor (29.9 percent) and Russia’s Alfa Group (42.4 percent).
www.kommersant.com
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