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11 October 2012

Kyivstar Buys Ukrainian Radio Systems

The Kyivstar telecommunication operator has acquired 100% of the Ukrainian Radio Systems company.

The company announced this in a statement.

Previously, Ukrainian Radio Systems was owned by companies affiliated with Kyivstar: Wintop Management Limited, Cradel Investments ltd, Cellcroft Holdings, Crayola Properties, and Crisden Holdings (all based in Cyprus), which owned 20% of the company each.

The official deal was concluded on October 1.

As Ukrainian News earlier reported, Kyivstar, Ukrainian Radio Systems, and Golden Telecom (both using the Beeline brand name) are part of the Ukrainian unit of the VimpelCom Ltd international telecommunications operator.

Beeline is in the process of merging with Kyivstar.

Under the merger strategy, Ukrainian Radio Systems may be liquidated as a legal entity in the future.