Oslo  - Telecommunications groups Telenor of Norway and Russia's Altimo on Monday unveiled plans to create a jointly-owned mobile phone operator.

The united company VimpelCom Ltd is to operate in Russia, Ukraine and other countries in the Commonwealth of Independent States as well as Georgia, Vietnam, Cambodia and Laos, a statement said.

The groups also aimed to expand business in Europe, Asia and Africa.

As part of the deal Telenor and Altimo, the telecom business of the Alfa Group, said they were to suspend or settle outstanding legal disputes.

"We have turned a five-year struggle into an exciting venture for the future," Telenor chief executive Jon Fredrik Baksaas commented.

Altimo's chief executive Alexei Reznikovich said the new company would be "strong financially".

The deal was expected to be concluded by mid-2010 pending approval from competition authorities and shareholders.

VimpelCom Ltd would combine holdings in OJSC VimpelCom and Kyivstar.

At the end of 2008, OJSC VimpelCom and Kyivstar together had some 85 million subscribers and revenues of 12.6 billion dollars.

A nine-member board was to be appointed. Telenor and Altimo would each name three members, the remaining three were to be unaffiliated.

VimpelCom Ltd was to be incorporated in Bermuda, and its headquarters were to be based in the Netherlands. (dpa)