Norwegian telecommunications group Telenor and Russia's Altimo Company announced the creation of a mobile phone operator with joint ownership.

The new company under the name VimpelCom will operate in Russia, Ukraine and other countries such as Georgia, Vietnam, Cambodia and Laos. The group also plan to expand its activities in Europe, Asia and Africa.
Executive Director of Altimo, Alexei Rezinkovikj said that the new company will be financially strong.