Kyivstar Intending To Merge Storm LLC And Boost Statutory Fund By UAH 350 Million To UAH 884.4 Million

kyivstarThe Kyivstar telecommunication operator intends to merge the limited liability company Storm based in Kyiv and to boost the statutory fund by UAH 350 million to UAH 884.369 million.

Ukrainian News learned this from a statement by Kyivstar, the wording of which was made available to the agency.

According to the statement, Kyivstar intends to issue 7 million ordinary registered shares with face value of UAH 50 each. The shares will be exchanged for shares in Storm.

The issue of the shares will be in non-documentary form.

The question of the increase in the statutory fund for merger of Storm with Kyivstar is in agenda of shareholder meetings set for January 20, January 27, and February 10, 2011.

As Ukrainian News earlier reported, on October 5, 2009, the Altimo company (Russia) and the Telenor telecommunications company (Norway) agreed to merge Kyivstar and VimpelCom to create a new cellular communications operator, VimpelCom Ltd. (Bermuda islands), to provide integrated cellular communications services in Russia, Ukraine, and other member-countries of the Commonwealth of Independent States, as well as in Georgia, Vietnam, Cambodia, and Laos.

Kyivstar and Beeline communications operators plan to close the merger deal by 2014.

Altimo controlled its shareholding in Kyivstar through Storm.

VimpelCom Holdings (Netherlands) owns 56.52% of the shares of Kyivstar, and Storm owns 43.48% of the shares. VimpelCom Ltd controls both companies.

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