Golden Telecom (merged with Vimpel Communications)

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EDN Sovintel provides advanced telecommunications services of voice, data, and video transmission and Internet access based on its own fiber-optic SDH network in Moscow and St. Petersburg. It was founded in 1990 as a telecommunications joint-venture between the majority state-owned Rostelecom and Golden Telecom, a subsidiary of GTE, Inc (US company). Sovintel started building its fiber optic digital network in 1992, with funding provided by the EBRD (a loan of US$ 6.5 million). Its network was a total of 700 km in length; Sovintel also dedicated fiber optic digital circuits connecting its network with leading international carriers, satellite channels for back-up of the fiber-optic circuits and digital microwave links and wireless network access. The network has a capacity to handle 20,000 connections simultaneously. Sovintel is a local company providing services mostly to businesses. In 2000, Sovintel received 10.5 GHz license in the St. Petersburg region and a 3.5 GHz license in Moscow. Golden Telecom had finalized its purchase of 50% of the Sovintel from Rostelecom in September 2002. Rostelecom received approximately 4 million shares (equivalent to 15% of outstanding common shares) in Golden Telecom and US$ 56 million in cash for the 50% stake in Sovintel. In April 2003 Golden telecom completed the merger of EDN Sovintel and TeleRoss LLC, into one legal entity. Before the merger TeleRoss was a subsidiary of Golden Telecom which operated in Russian regions. After the merger EDN Sovintel became the legal successor of TeleRoss LLC. All services in the merged company are provided under the Golden Telecom brand. At the end of 2005 Golden Telecom claimed to be the largest alternative fixed line operator in Russia. In 2008, VimpelCom announced the completion of the merger of its indirect wholly-owned subsidiary, Lillian Acquisition, Inc. with and into Golden Telecom, Inc. Upon completion of the merger, Golden Telecom became the surviving corporation and an indirect wholly-owned subsidiary of VimpelCom. Each remaining share of Golden Telecom common stock was canceled and Golden Telecom common stock ceased trading on NASDAQ at market close on 28 February 2008. http://www.goldentelecom.com/en/about_us/ Vimpel communications bought 100% of Golden Telecom in Feb 2008 according to Vimpel Communications 2007 annual report.