Exhibit 8

LIST OF SUBSIDIARIES

Below is a list of our subsidiaries and their
jurisdiction of incorporation as of March 15, 2013.



|                                |  |                         
|------------------------------- |  | ------------------------
|Subsidiaries                    |  | Country of Incorporation
|OJSC VimpelCom                  |  | Russia                  
|PJSC Kyivstar                   |  | Ukraine                 
|Staravto SC                     |  | Ukraine                 
|Ararima Enterprises Limited     |  | Cyprus                  
|Atlas Trade Limited             |  | BVI                     
|Sotelco Ltd.                    |  | Cambodia                
|Fortland Limited (BVI)          |  | BVI                     
|LLC Kolangon-optim              |  | Russia                  
|LLC Intervest                   |  | Russia                  
|LLC ElcomLine                   |  | Russia                  
|LLC Dial-Impex                  |  | Russia                  
|LLC MediaInform                 |  | Russia                  
|LLC PrimeTime                   |  | Russia                  
|LLC Aston                       |  | Russia                  
|B.V. VimpelCom Finance S.a.r.l. |  | Netherlands             
|VC ESOP N.V.                    |  | Belgium                 
|VimpelCom B.V.                  |  | Netherlands             
|Takom LLC                       |  | Tajikistan              
|Cosiniad Investments Limited    |  | Cyprus                  
|Limnotex Developments Ltd.      |  | Cyprus                  
|Irington Developments Ltd.      |  | Seychelles              
|Wenthorp Industries Ltd.        |  | Seychelles              
|Kar-Tel LLP                     |  | Kazakhstan              
|Teta-Telecom LLP                |  | Kazakhstan              
|Prunescom Ltd.                  |  | BVI                     
|LLC CKN                         |  | Russia                  
|LLC VimpelCom Finance           |  | Russia                  
|LLC VimpelCom-Invest            |  | Russia                  
|LLC Beeline Ventures            |  | Russia                  
|CJSC Makrocom                   |  | Russia                  
|CJSC ST Mobile                  |  | Russia                  
|Golden Telecom, Inc.            |  | USA (Delaware)          
|Cell Ukraine Ltd.               |  | USA (Delaware)          
|Invest Holding LLC              |  | Ukraine                 
|GTS Ukranian TeleSystems LLC.   |  | USA (Delaware)          
|Golden Telecom LLC              |  | Ukraine                 
|Golden Telecom Limited (BVI)    |  | BVI                     
|GTS Finance, Inc.               |  | USA (Delaware)          
|Golden Telecom Group, Inc.      |  | USA (Delaware)          
|Golden TeleServices, Inc.       |  | USA (Delaware)          
|SFMT-CIS, Inc.                  |  | USA (Delaware)          
|LLC DICOM                       |  | Russia                  
|S-Line LLC                      |  | Ukraine                 
|Platinum Internet LLC           |  | Ukraine                 
|Golden Holdings, Inc.           |  | USA (Delaware)          
|Agama Limited (Cyprus)          |  | Cyprus                  
|CJSC Cityline                   |  | Russia                  
|SFMT-Rusnet, Inc.               |  | USA (Delaware)          



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|                               |  |                                 
|------------------------------ |  | --------------------------------
|Subsidiaries                   |  | Country of Incorporation        
|ST Holding s.r.o.              |  | Czech Republic (Prague city)    
|CJSC Samara Telecom            |  | Russia                          
|CJSC FTK                       |  | Russia                          
|CJSC WBT                       |  | Russia                          
|GTI Russian Ltd.               |  | BVI                             
|GTI Kaztel Ltd.                |  | BVI                             
|Buzton JV Ltd.                 |  | Uzbekistan                      
|Clafdor Investments Limited    |  | Cyprus                          
|Comnidor Holdings Limited      |  | Cyprus                          
|BARDYM ENTERPRISES LIMITED     |  | Cyprus                          
|LLC Sovintel Group             |  | Russia                          
|Antel Rascom Ltd.              |  | BVI                             
|CJSC RASCOM                    |  | Russia                          
|LLC Kubtelecom                 |  | Russia                          
|CJSC Kubintersvyaz             |  | Russia                          
|LLC SatilCenter                |  | Russia                          
|LLC ALKAR                      |  | Russia                          
|LLC JV Sakhalin Telecom        |  | Russia                          
|LLC Territory of contracts     |  | Russia                          
|LLC Loyalty Partners Vostok    |  | Russia                          
|CJSC National Service Company  |  | Russia                          
|Watertrail Industries Ltd.     |  | BVI                             
|M.I.P.R. INVESTMENTS LTD.      |  | Cyprus                          
|Mobitel LLC.                   |  | Georgia                         
|Investico Alliance Ltd.        |  | BVI                             
|Menacrest Limited              |  | Cyprus                          
|NOUSE LIMITED                  |  | Cyprus                          
|Sky Mobile LLC                 |  | Kyrgyzstan                      
|Aridus Corporation             |  | Seychelles                      
|Armenia Telephone Company CJSC |  | Armenia                         
|ArmenCell CJSC                 |  | Armenia                         
|Freevale Enterprises           |  | BVI                             
|Silkway Holding B.V.           |  | Netherlands                     
|Unitel LLC                     |  | Uzbekistan                      
|Wintop Management Ltd.         |  | Cyprus                          
|Crayola Properties Ltd.        |  | Cyprus                          
|Cellcroft Holdings Ltd.        |  | Cyprus                          
|Crisden Holdings Ltd.          |  | Cyprus                          
|Cradel Investments Ltd.        |  | Cyprus                          
|Ukrainian Radiosystem PJSC     |  | Ukraine                         
|CJSC Firm Messenger            |  | Russia                          
|CJSC URAL-NET                  |  | Russia                          
|CJSC Izhsviazinvest            |  | Russia                          
|OJSC NTC                       |  | Russia                          
|CJSC Novaya svyaz              |  | Russia                          
|CJSC Gelios-TV                 |  | Russia                          
|LLC NeoTel                     |  | Azerbaijani Republic (Baku city)
|VimpelCom Lao Co., Ltd.        |  | Laos                            
|VimpelCom Holding Laos B.V.    |  | Netherlands                     
|2Day Telecom LLP               |  | Kazakhstan                      
|S&G LLP                        |  | Kazakhstan                      
|TNS-Plus LLP                   |  | Kazakhstan                      



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|                                                                           |  |                               
|-------------------------------------------------------------------------- |  | ------------------------------
|Subsidiaries                                                               |  | Country of Incorporation      
|KAZEUROMOBILE LLP                                                          |  | Kazakhstan                    
|Wind Telecom S.p.A.                                                        |  | Italy                         
|Weather Capital S.à.r.l                                                    |  | Luxembourg                    
|Klarolux Investments S.à.r.l                                               |  | Luxembourg                    
|WIND Acquisition Holdings Finance S.p.A.                                   |  | Italy                         
|WIND Telecomunicazioni S.p.A.                                              |  | Italy                         
|WIND Retail S.r.l.                                                         |  | Italy                         
|Weather Capital Special Purpose I S.A.                                     |  | Luxembourg                    
|Orascom Telecom Holding S.A.E (OTH)                                        |  | Egypt                         
|International Wireless Communications Pakistan Limited                     |  | Malta                         
|Telecom Management Group Limited                                           |  | Malta                         
|Pakistan Mobile Communications Limited                                     |  | Pakistan                      
|Global Entity for Telecom Trade FZE                                        |  | UAE                           
|Ring Dubai                                                                 |  | UAE                           
|Business & Communication Systems (Pvt) Ltd.                                |  | Pakistan                      
|Link Direct International (Private) Limited                                |  | Pakistan                      
|LinkdotNET Pakistan (Pvt) Ltd.                                             |  | Pakistan                      
|LinkDotNet Telecom Limited                                                 |  | Pakistan                      
|Waseela Bank                                                               |  | Pakistan                      
|Mobitalk (Pvt) Ltd.                                                        |  | Pakistan                      
|Mobilink Foundation                                                        |  | Pakistan                      
|Orascom Telecom Netherlands B.V.                                           |  | The Netherlands               
|Telecel International Ltd. S.A.                                            |  | Switzerland                   
|Telecel International Services S.A.                                        |  | Switzerland                   
|Telecel Globe Limited                                                      |  | Malta                         
|Telecel Centrafrique S.A.                                                  |  | Central African Republic (CAR)
|U-com Burundi S.A.                                                         |  | Burundi                       
|Orascom Telecom Ventures Ltd.                                              |  | Malta                         
|Orascom Telecom Bangladesh Limited                                         |  | Bangladesh                    
|Oratel International Inc. Limited                                          |  | Malta                         
|Moga Holding Ltd.                                                          |  | Malta                         
|Orascom Telecom Algeria S.p.A.                                             |  | Algeria                       
|Orascom Telecom Holding Canada (Malta) Limited                             |  | Malta                         
|Orascom Telecom Holding (Canada) Limited                                   |  | Canada                        
|Orascom Telecom S.à.r.l                                                    |  | Luxembourg                    
|Orascom Telecom Finance S.C.A                                              |  | Luxembourg                    
|Orascom Luxembourg S.à.r.l                                                 |  | Luxembourg                    
|Orascom Luxembourg Finance S.C.A.                                          |  | Luxembourg                    
|Orascom Telecom Oscar S.A.                                                 |  | Luxembourg                    
|Orascom Telecom CS Limited (previously Cortex Services Limited)            |  | Malta                         
|Cortex for Services & Consultations S.A.E.                                 |  | Egypt                         
|Orascom Iraq Holding Limited                                               |  | Malta                         
|Orascom Telecom Iraq Corp. Limited                                         |  | Malta                         
|Ring for Distribution S.A.E                                                |  | Egypt                         
|Multi Media Mega Stores                                                    |  | Egypt                         
|Ring Iraq                                                                  |  | Iraq                          
|Ring for Handset Service (CaRing)                                          |  | Egypt                         
|Advanced Electronic Industries                                             |  | Egypt                         
|Egyptian Company for Marketing and Telecommunication and Service Connect |  | Egypt                         
|The Phone Company FZO                                                      |  | Freezone                      
|Ring Distribution (Private) Limited                                        |  | Pakistan                      
|CaRing (Private) Limited                                                   |  | Pakistan                      



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|                                                    |  |                         
|--------------------------------------------------- |  | ------------------------
|Subsidiaries                                        |  | Country of Incorporation
|R&D S.à.r.l                                         |  | Tunisia                 
|Ring Algeria LLC                                    |  | Algeria                 
|Ring Algeria Services                               |  | Algeria                 
|Ring Maintenance (CaRing)                           |  | Algeria                 
|Ring Distribution (Private) Limited                 |  | Bangladesh              
|Orascom Telecom Acquisition S.à.r.l                 |  | Luxembourg              
|Orascom Telecom One S.à.r.l                         |  | Luxembourg              
|Orascom Telecom Services L.L.C                      |  | Egypt                   
|Database Management Services Limited                |  | Malta                   
|Database Management Services Algeria                |  | Algeria                 
|M-Link Ltd.                                         |  | Malta                   
|Sawyer Limited                                      |  | Malta                   
|Orascom Telecom Eurasia Limited                     |  | Malta                   
|Minimax Ventures Limited                            |  | Malta                   
|Financial Powers Plan Limited                       |  | Malta                   
|Orascom Telecom ESOP Ltd.                           |  | Malta                   
|Orascom for International Investment Holding        |  | Malta                   
|Wind Acquisition Finance S.A.                       |  | Luxembourg              
|International Telecommunications Consortium Limited |  | UK                      
|Consortium Algerien de Telecomunications S.p.a.     |  | Algeria                 
|Ring Tunisia S.à.r.l (Ring Tunisie)                 |  | Tunisia                 
|Ring Distribution Tunisia                           |  | Tunisia                 
|Ring Distribution Detail S.à.r.l (Ring Retail)      |  | Tunisia                 
|Med Cable Limited                                   |  | UK                      
|CJSC Ural-Intercard                                 |  | Russia                  
|VimpelCom (BVI) Ltd.                                |  | BVI                     
|VimpelCom Amsterdam B.V.                            |  | The Netherlands         
|VimpelCom Holdings B.V.                             |  | The Netherlands         
|VimpelCom Amsterdam Finance B.V.                    |  | The Netherlands         
|VimpelCom International Services B.V.               |  | The Netherlands         
|VimpelCom Telecom Holding B.V.                      |  | The Netherlands         
|GTH Canada B.V.                                     |  | The Netherlands         
|VimpelCom Georgia Holdings B.V.                     |  | The Netherlands         
|TTK, LLC                                            |  | Ukraine                 
|Golden Fiber, LLC.                                  |  | Ukraine