VimpelCom sold its 90 per cent stake in Cambodian business Sotelco to its local partner for an undisclosed sum.

In a statement, Jo Lunder (pictured), CEO of VimpelCom, said: “We have previously outlined our Value Agenda within which our operations are reviewed to assess their future value to the Group. The decision to sell our interest in Cambodia is a result of this process.”

According to Wireless Intelligence figures, Sotelco, which trades as Beeline, ended 2012 with 597,000 subscribers, lagging rivals including MetFone (9.56 million), Smart Mobile (4. 3 million) and Cellcard (2.8 million).

Reports late last year said that VimpelCom had appointed banks to advise on the sale of its operation in Cambodia, as well as its options in Zimbabwe, the Central African Republic, and Laos

VimpelCom sold its 49 per cent stake in Vietnam operator GTEL Mobile in 2012, again selling to its local partner.