Russian mobile operator VimpelCom today announced it has taken a 40 percent stake in a joint GSM mobile operator venture – GTEL-Mobile – with Vietnamese state telecoms companies and will contribute US$267 million to the venture. The venture includes investment from Vietnam’s state Global Telecommunications Corporation (GTEL) and its unit GTEL TSC (51 percent and 9 percent stakes, respectively). According to a Reuters report, VimpelCom estimates overall investments in GTEL-Mobile to be up to US$1.8 billion in the next five years. The operator is aiming for a 15-20 percent market share in that time. The new venture will compete against five existing mobile operators; Viettel, Mobifone Vietnam, Vinaphone, S-Fone Vietnam and HT Mobile. According to Wireless Intelligence, Vietnam is a potential high-growth market as mobile penetration is currently only around 50 percent.

The move into Vietnam marks the latest effort by Russia’s second largest operator to expand its global footprint. Reuters reports today that the operator is rumoured to have acquired Cambodian fixed-line operator Sotelco for US$28 million, whilst last week VimpelCom said it has paid US$561.8 million to boost its stake in Kazakhstan’s second-largest mobile operator Kar-Tel to 75 percent. Last month, the Russian operator said it had been invited to take part in a tender for Iran’s third mobile license, and also bought the remaining 49 percent in Russian fixed broadband service provider Corbina Telecom for US$404 million.