StavTeleSot (merged with Vimpelcom)

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ZAO StavTeleSot was established in 1996 as a closed joint stock company. The same year the company was awarded a cellular licence in the GSM-900/1800 standard for the Stavropol region. StavteleSot began operations in January 1998 under the trademark Severo-Kavkazskii GSM (Northern Caucasus GSM). Telenor was partner in StavTeleSot along with Russian companies Elektrosvyaz and StavTelekom. The total investment in the network amounts to approximately US$ 12.8 million by 2000. In December 2002 StavTeleSot was Russia's seventh largest operator in terms of subscribers when it had 175,200 subscribers, which represented a market share of 63% in the Stavropol region. VimpelCom acquired a 90% stake in StavTeleCom in December 2002 dor US$38 million including 49% stake from Telenor Mobile and a further 41% from local Stavtelecom. In September 2003 Vimpelcom finalized the acquisition of remaining 10% in StavTeleSot which became a subsidiary of Vimpelcom-Region, later merged into Vimpelcom. From 2004 investment figures are included in project 3250, Vimpelcom.