Russian Govt Rejects VimpelCom License Transfer-Vedomosti

MOSCOW (Dow Jones)--The Russian Telecommunications Agency has rejected two requests by OAO Vimpel Communications (VIP) to transfer the licenses to operate in Moscow and some regions to the head company from two fully owned units, Vedomosti reports Monday.

The paper quoted VimpelCom's report to the U.S. Securities' and Exchanges Commission as saying that the Telecommunications Agency, answerable to the Information Technology and Communications Ministry, said VimpelCom needs to better justify its legal right to have licenses transferred and should also wait for the government to draw up a new list of activities that need a license.

VimpelCom is keen to merge with its units KB Impuls and VimpelCom-R so that all its operating licenses can be held by the head company OAO VimpelCom and authorities can't question the legality of the company's operations. The move follows a court case over the legitimacy of the Moscow license.

Newspaper Web site: http://www.vedomosti.ru

-By Moscow Bureau, Dow Jones Newswires; 7095-974-8055

(END) Dow Jones Newswires "

Posted to the site on 25th October 2004