Golden Telecom completes the acquisition of Sibchallenge Telecom
03 Sep 2003

On August 6, 2003 Golden Telecom signed a share purchase agreement to acquire 100% of OOO Sibchallenge Telecom. After the receipt of regulatory approval and satisfaction of conditions precedent the deal was closed on August 27, 2003. The price of the acquisition was $15 million.

Sibchallenge Telecom has constructed and operates 100,000 telephone numbers in Krasnoyarsk. It has an independent network in Krasnoyarsk, with an Electronic Worldwide Search Digital (EWSD) switch, 127 km of fiber-optic cable, 170 km of copper cable, and more than 30 points of presence in the city. It also has a Code Division Multiple Access (CDMA) wireless license, with approximately 8,000 users. ZAO Tel estimates that it controls 50% of the dial-up Internet market in Krasnoyarsk.

The consolidated revenue for OOO Sibchallenge Telecom in 2003 is expected to be between $10 million and $12 million, calculated according to Russian Accounting Standards (RAS).

Golden Telecom Inc.

Altimo, a leading private equity group, operating on some of the world's most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (Golden Telecom, Inc., Turkcell Iletisim Hizmetleri A.S., Kyivstar GSM, MegaFon, VimpelCom, Sky Mobile). Those assets are in Russia , the CIS and other promising emerging markets.

Golden Telecom Inc. is a leading independent  fixed-line communications operator in Russia. The company provides, via its own infrastructure, complex telecommunications and internet services in Russia and several CIS countries. Listed on US NASDAQ. In Q1 2008, VimpelCom acquired 100% of the oustanding share capital of Golden Telecom.

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