EBRD acquired shares of JSC VimpelCom

The European Bank for Reconstruction and Development became the owner of a 3.2 percent stake in VimpelCom JSC, operator of the Bee Line mobile communication network. The value of the stake was $30 million.

VimpelCom conducted a program to place depositary shares and convertible bonds on the New York Stock Exchange. The successful implementation of this program allowed the company to raise $225.4 million.

As EBRD press officer Jeff Hayday told the Segodnya newspaper, the new investments are consistent with the bank's general line of increasing investment in Russia. The EBRD's mission is to promote investment in the development of market economies in Eastern Europe. Over the past decade, the EBRD has provided one-tenth of foreign direct investment in our economy, investing a quarter of its resources.