Russia's VimpelCom said on Friday it bought provincial mobile operator StavTeleSot from Norway's Telenor ASA and a Russian shareholder for $38.4 million, fitting a new piece into its national network.
Telenor, Norway's largest telecommunications group, said earlier it had sold its 49 percent stake to VimpelCom, its Russian partner, for $20.9 million.
Based in the southern province of Stavropol, StavTeleSot is one of Russia's largest regional cellular networks. VimpelCom, Russia's second largest mobile operator, already has networks in neighboring regions. "The acquisition of another regional operator will further strengthen VimpelCom's national expansion," Telenor Mobile Chief Executive Arve Johansen said in a statement, the Russia Journal reported.