Russia's Vimpel Communications will invest 267 million dollars in the Vietnamese mobile telephone joint venture GTEL-Mobile, the company said in a statement. VimpelCom will hold a 40 percent stake while Global Telecommunications Corporation, a Vietnamese state-owned enterprise, will hold 51 percent, and one of its Vietnamese subsidiaries will own the remainder, VimpelCom said.
"With a population of 86 million and a fast growing economy, the Vietnamese market holds great promise for VimpelCom," said the Russian company's chief executive officer, Alexander Izosimov.