Vimpelcom Vietnam JV gets mobile license, spectrum

MOSCOW, Sept 24 (Reuters) - Russian fixed-to-mobile telecom company Vimpelcom (VIP.N) said on Wednesday its Vietnamese mobile joint venture, GTEL-Mobile, had been assigned a GSM license and frequencies.

"Now, with all the procedural issues solved, we can focus all our efforts on the network rollout and the preparation of commercial launch," Vimpelcom Chief Executive Officer Alexander Izosimov said in a statement.

Vimpelcom signed an agreement to set up the venture in July this year and is paying $267 million for a 40 percent stake in the venture.

Its partners are two of Vietnam's state-owned companies. Under the agreement, they contribute the mobile licence that has now been issued.

Vimpelcom, in which Norway's Telenor (TEL.OL) and Russia's Alfa Group have large stakes, said earlier it was aiming for a 15-20 percent share of the Vietnamese mobile calls market within five years, or around 20 million subscribers.

GTEL-Mobile is scheduled to launch commercial services in the middle of next year. (Reporting by Maria Kiselyova; editing by John Stonestreet)