Project started in 2001.

Description of the Company: The telecommunications market leader in Russia and CIS. Provides mobile communication services under the brand Beeline, one of the most recognized in Russia. The Company's license covers the locations populated with 140 mln. people, approximately 97% of the country population. The company is the largest mobile operator in Kazakhstan. VimpelCom was the first Russian company to go public and get listing on the New-York Stock Exchange.

Investment Appeal/Investment Concept of the Project: A leader of the rapidly growing industry. It was a favorable target for strategic investment because of the low price environment that followed dotcom boost in 2000. Strong and reliable partner (Norwegian telecommunications holding company Telenor).

Role of the Investor: Management of the stake in VimpelCom (now Alfa-Group stake amounts to 44%) from the very first moments of the consortium investment activities in telecommunications; efficient participation in the development of the operator; attraction of major first-class foreign financing for the creation of the company’s regional networks. Investment and management decisions of Alfa professionals formed the basis of VimpelCom strategy. By the time of the withdrawal from the project the priority task had been completed: the extension of the license coverage over practically the whole territory of Russia. VimpelCom CAGR during our three-year participation in the project were the highest in the industry: its user base increased over 16.6 times, the number of networks in the Russian Federation increased from five to seventy, market capitalization increased by 9.25 times and NYSE price of shares – by 6.5 times. Alfa-Group then consolidated its telecommunications assets in a special company Altimo, where the shares in VimpelCom were transferred.