VimpelCom exits Cambodia

Operator group VimpelCom, now headquartered in Amsterdam, said that it has agreed to offload its entire stake in Cambodian operation Sotelco to local investment partner Huot Vanthan.

Jo Lunder, CEO of VimpelCom, said: “We have previously outlined our Value Agenda within which our operations are reviewed to assess their future value to the Group. The decision to sell our interest in Cambodia is a result of this process.  We are happy that our long term partner in the company now takes control of the business in Cambodia.”

In 2009 Nordic operator Telenor and Russian conglomerate Altimo (Alfa Group) ended years of legal disputes with a plan to combine their common assets in Russia and Ukraine, including holdings in second-placed Russian operator VimpelCom.

The united company provided mobile services in Russia, Ukraine and other CIS countries, as well as Georgia, Vietnam, Cambodia and Laos.

Sotelco had around one million subscribers at the end of March according to Informa’s WCIS+, putting it behind Viettel with nearly ten million, Latelz with 4.9 million, CamGSM with 3.4 million and Hello Axiata with 2.5 million users.