SCHEDULE 13D
Amendment No. 1
Vimpel Communications
American Depositary Receipt
Cusip # 68370R109
Cusip # 68370R109
Item 1: Reporting Person - FMR Corp. - (Tax ID: 04-2507163)
Item 4: PF
Item 6: Commonwealth of Massachusetts
Item 7: None
Item 8: None
Item 9: 161,000
Item 10: None
Item 11: 304,160
Item 13: 1.31%
Item 14: HC
PREAMBLE
Based upon information presently available to the
undersigned, including the number of shares of American
Depositary Receipts of the issuer (the "ADR's") outstanding as of
the date hereof and as of January 23, 1997 (the date as of which
the undersigned reported its ownership in its original report on
Schedule 13D filed with the Securities and Exchange Commission on
January 28, 1997 (the "Original 13D")), as of the date hereof and
as of January 23, 1997, the undersigned was the beneficial owner
of approximately 1.31% of the outstanding ADR's. Accordingly,
notwithstanding the filing of the Original 13D, the undersigned
is not, and was not on January 23, 1997, a Reporting Person
required to file reports on Schedule 13D. The undersigned will
not in the future file reports on Schedule 13D relating to the
ADR's unless and until the undersigned otherwise becomes a
Reporting Person.
Item 1. Security and Issuer.
This statement relates to shares of the American Depositary
Receipt, $0.00 par value (the "ADR's") of Vimpel Communications,
a Russia corporation (the "Company"). The principal executive
offices of the Company are located at 10-12 Ulitsa; 8-Marta,
Moscow, Russian Federation.
Item 2. Identity and Background.
This statement is being filed by FMR Corp., a Massachusetts
Corporation ("FMR"). A separate Schedule 13D is being filed by
Fidelity International Limited, a Bermuda joint stock company
incorporated for an unlimited duration by private act of the
Bermuda legislature ("FIL"). FMR is a holding company one of
whose principal assets is the capital stock of a wholly-owned
subsidiary, Fidelity Management & Research Company ("Fidelity"),
which is also a Massachusetts corporation. Fidelity is an
investment advisor which is registered under Section 203 of the
Investment Advisors Act of 1940 and which provides investment
advisory services to more than 30 investment companies which are
registered under Section 8 of the Investment Company Act of 1940
and serves as investment advisor to certain other funds which are
generally offered to limited groups of investors (the "Fidelity
Funds"). Various directly or indirectly held subsidiaries of FMR
are also engaged in investment management, venture capital asset
management, securities brokerage, transfer and shareholder
servicing and real estate development. The principal offices of
FMR and Fidelity are located at 82 Devonshire Street, Boston,
Massachusetts 02109.
FIL is an investment adviser which provides investment
advisory and management services to a number of non-U.S.
investment companies or instrument trusts (the "International
Funds") and certain institutional investors. Prior to June 30,
1980, FIL was a majority-owned subsidiary of Fidelity. On that
date, the shares of FIL held by Fidelity were distributed, as a
dividend, to the shareholders of FMR. FIL currently operates as
an entity independent of FMR and Fidelity. The International
Funds and FIL's other clients, with the exception of Fidelity and
an affiliate of Fidelity, are non-U.S. entities. Various
foreign-based subsidiaries of FIL are also engaged in investment
management. The principal office of FIL is located at Pembroke
Hall, 42 Crow Lane, Hamilton, Bermuda.
Members of the Edward C. Johnson 3d family are the
predominant owners of Class B shares of common stock of FMR
representing approximately 49% of the voting power of FMR. Mr.
Johnson 3d owns 12.0% and Abigail Johnson owns 24.5% of the
aggregate outstanding voting stock of FMR. Mr. Johnson 3d is the
Chairman of FMR. The Johnson family group and all other Class B
shareholders have entered into a shareholders' voting agreement
under which all Class B shares will be voted in accordance with
the majority vote of Class B shares. Accordingly, through their
ownership of voting common stock and the execution of the
shareholders' voting agreement, members of the Johnson family may
be deemed, under the Investment Company Act of 1940, to form a
controlling group with respect to FMR. The business address and
principal occupation of Mr. Johnson 3d is set forth in Schedule A
hereto.
The ADR's to which this statement relates are owned directly
by two of the Fidelity Funds, and by Fidelity International
Limited, through its subsidiaries and affiliates.
FMR and FIL are of the view that they are not acting as a
"group" for purposes of Section 13(d) under the Securities
Exchange Act of 1934 (the "1934 Act") and that they are not
otherwise required to attribute to each other the "beneficial
ownership" of securities "beneficially owned" by the other
corporation within the meaning of Rule 13d-3 promulgated under
the 1934 Act. Therefore, they are of the view that the ADR's
held by the other corporations need not be aggregated for
purposes of Section 13(d). However, FMR is making this filing on
a voluntary basis as if all of the ADR's are beneficially owned
by FMR and FIL on a joint basis.
The name, residence or business address, principal
occupation or employment and citizenship of each of the executive
officers and directors of FMR are set forth in Schedule A hereto.
Within the past five years, none of the persons named in
this Item 2 or listed on Schedule A has been convicted in any
criminal proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to any civil proceeding and as
a result thereof was or is subject to any judgment, decree or
final order enjoining future violations of, or prohibiting or
mandating activities subject to federal or state securities laws
or finding any violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
The Funds do not, and did not as of January 23, 1997, own
more than 5.0% of the American Depositary Receipts. Accordingly,
the information required by this Item 3 is not required to be
disclosed. Any information provided in the Original 13D under
this item hereby is withdrawn.
Item 4. Purpose of Transaction.
The Funds do not, and did not as of January 23, 1997, own
more than 5.0% of the American Depositary Receipts. Accordingly,
the information required by this Item 4 is not required to be
disclosed. Any information provided in the Original 13D under
this item hereby is withdrawn.
Item 5. Interest in Securities of Issuer.
The Funds do not, and did not as of January 23, 1997, own
more than 5.0% of the American Depositary Receipts. Accordingly,
the information required by this Item 5 is not required to be
disclosed. Any information provided in the Original 13D under
this item hereby is withdrawn.
Item 6. Contract, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
The Funds do not, and did not as of January 23, 1997, own
more than 5.0% of the American Depositary Receipts. Accordingly,
the information required by this Item 6 is not required to be
disclosed. Any information provided in the Original 13D under
this item hereby is withdrawn.
Item 7. Material to be Filed as Exhibits.
Not Applicable.
This statement speaks as of its date, and no inference
should be drawn that no change has occurred in the facts set
forth herein after the date hereof.
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
FMR Corp.
DATE: March 5, 1997 By: /s/Arthur
Loring
Arthur Loring
Vice President-Legal
SCHEDULE A
The name and present principal occupation or employment of
each executive officer and director of FMR Corp. are set forth
below. The business address of each person is 82 Devonshire
Street, Boston, Massachusetts 02109, and the address of the
corporation or organization in which such employment is conducted
is the same as his business address. All of the persons listed
below are U.S. citizens.
POSITION WITH
PRINCIPAL
NAME FMR CORP. OCCUPATION
Edward C. Johnson 3d President,
Chairman of the
Director, CEO Board and CEO, FMR
Chairman &
Mng. Director
J. Gary Burkhead Director President-Fidelity
Caleb Loring, Jr. Director, Director, FMR
Mng. Director
James C. Curvey Director, Sr. V.P., FMR
Sr. V.P.
William L. Byrnes Vice Chairman Vice Chairman, FIL
Director & Mng.
Director
Abigail P. Johnson Director Portfolio Mgr -
Fidelity
Management &
Research
Company
Robert C. Pozen Sr. V.P. & Gen'l Sr. V.P. & Gen'l
Counsel Counsel, FMR
David C. Weinstein Sr. Vice President Sr. Vice President
Administration Administration
Gerald M. Lieberman Sr. Vice Pres. - Sr. Vice Pres. -
Chief Financial Chief Financial
Officer Officer
SCHEDULE B
Vimpel Communications
Not Applicable. The information provided in the Original 13D
under Schedule B hereby is withdrawn.
