Russia's Vympelcom in talks over Velcom shares


The Belarusian company Mobile Digital Communications (branded as Velcom) has become an attractive asset on the market. Apart from Telecom Austria, the Russian communications company Vympelcom is set to buy the shares of the Belarusian mobile communications operator, the Russian business daily  Kommersant quotes a source close to the Vympelcom shareholders.

The Russian company has been in taks with the Cyprus-based SB-Telecom since May 2007 trying to acquire 49 percent of the shares package. Sources say that the parties have met several times, but no principal agreement was reached.

The Geneva-based SB-Telecom headquarters have refused to comment on the sale of Velcom shares, while Vympelcom would not denounce it was in talks with the Cyprus company.