M&A

30 November, 2009

UPDATE 1-Former Vimpelcom CEO to head enlarged group

* Newly formed Vimpelcom Ltd reappoints Alexander Izosimov

* Izosimov was head before merger with Ukraine's Kyivstar

(Adds detail on appointment)

MOSCOW/OSLO, Nov 30 (Reuters) - Former Vimpelcom (VIP.N) Chief Executive Alexander Izosimov will take the CEO's role at newly enlarged Vimpelcom Ltd, less than a year after he stepped down from the company's previous incarnation.

Vimpelcom Ltd was formed in early October when shareholders including Norway's Telenor (TEL.OL) and Russia's Alfa Group agreed to merge their holdings in U.S.-listed Vimpelcom and Ukraine's Kyivstar after a years-long dispute. [ID:nL563781]

Telenor and Alfa's telecoms arm Altimo released statements Monday announcing Izosimov's appointment, with Norwegian Jo Lunder, who served as Vimpelcom CEO between April 2001 and October 2003, taking the Chairman's role.

Izosimov left his post as CEO of Vimpelcom in April, when the shareholder dispute was in full swing. [ID:nL2258513]

The new Vimpelcom Ltd will be the biggest emerging markets operator in Europe, Middle East and Africa and will eventually take over Vimpelcom's New York listing. (Reporting by John Bowker; editing by Maria Kiselyova and Hans Peters) ((john.bowker@reuters.com;+7 495 775 1242 Reuters Messaging: john.bowker.reuters.com@reuters.net))

Source: http://www.reuters.com