Exhibit 8

LIST OF SUBSIDIARIES

Below is a list of our subsidiaries and their
jurisdiction of incorporation as of June 28, 2011.



|                                      |  |                         
|------------------------------------- |  | ------------------------
|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                  
|VimpelCom Finance B.V.                |  | Netherlands             
|VC ESOP N.V.                          |  | Belgium                 
|VimpelCom B.V.                        |  | Netherlands             
|VimpelCom Ltd.                        |  | Bermuda                 
|Takom LLC                             |  | Tadjikistan             
|Cosiniad Investments Limited          |  | Cyprus                  
|Limnotex Developments Ltd.            |  | Cyprus                  
|Irington Developments Ltd.            |  | Seychelles              
|Wenthorp Industries Ltd.              |  | Seychelles              
|Kar-Tel TOO                           |  | Kazakhstan              
|Teta-Telecom TOO                      |  | Kazakhstan              
|Prunescom Ltd.                        |  | BVI                     
|CJSC Altaigrif                        |  | Russia                  
|LLC Antares E                         |  | Russia                  
|LLC CKN                               |  | Russia                  
|OJSC STC                              |  | Russia                  
|CJSC Belgorodskie cifrovie magistrali |  | Russia                  
|CJSC Business Communications Agency   |  | Russia                  
|CJSC Informtechnology                 |  | Russia                  
|LLC VimpelCom Finance                 |  | Russia                  
|LLC VimpelCom-Invest                  |  | Russia                  
|LLC Beeline Ventures                  |  | Russia                  
|LLC Investroysvyaz                    |  | Russia                  
|LLC Dominanta                         |  | Russia                  
|CJSC Makrocom                         |  | Russia                  
|CJSC Sakhalin Telecom                 |  | Russia                  
|OJSC Polarcom                         |  | Russia                  
|LLC Unisoft                           |  | Russia                  
|Golden Telecom, Inc.                  |  | USA (Delaware)          
|GTS Mobile Services Inc.              |  | USA (Delaware)          



---

|                               |  |                             
|------------------------------ |  | ----------------------------
|Cell Ukraine Ltd.              |  | USA (Delaware)              
|Invest Holding LLC             |  | Ukraine                     
|GTS Ukranian TeleSystems LLC.  |  | USA (Delaware)              
|Golden Telecom LLC             |  | Ukraine                     
|TTK LLC                        |  | Ukraine                     
|Golden Fiber LLC               |  | Ukraine                     
|Golden Telecom Limited (BVI)   |  | BVI                         
|GTS Finance, Inc.              |  | USA (Delaware)              
|ROL Holdings Ltd. (Cyprus)     |  | Cyprus                      
|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)              
|ST Holding s.r.o.              |  | Czech Republic (Prague city)
|CJSC Samara Telecom            |  | Russia                      
|JSC FTK                        |  | Russia                      
|CJSC WBT                       |  | Russia                      
|GTI Russian Ltd.               |  | BVI                         
|GTI Kaztel Ltd.                |  | BVI                         
|Buzton JV Ltd.                 |  | Uzbekistan                  
|Clafdor Investments Limited    |  | Cyprus                      
|SA Telcom TOO                  |  | Kazakhstan                  
|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 Sakhalin Telecom           |  | Russia                      
|Watertrail Industries Ltd.     |  | BVI                         
|Mobitel Ltd.                   |  | Georgia                     
|Menacrest Limited              |  | Cyprus                      
|Sky Mobile LLC                 |  | Kyrgyzstan                  
|Aridus Corporation             |  | Seychelles                  
|Armenia Telephone Company CJSC |  | Armenia                     
|ArmenCell CJSC                 |  | Armenia                     
|Infocom Ashtarak 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                          
|URS CJSC                                                                 |  | Ukraine                         
|Technostroy LLC                                                          |  | Ukraine                         
|CJSC Firm Messenger                                                      |  | Russia                          
|CJSC ELTEL                                                               |  | Russia                          
|LLC It-Com                                                               |  | Russia                          
|LLC URAL-NET                                                             |  | Russia                          
|LLC Izhsviazinvest                                                       |  | Russia                          
|OJSC NTC                                                                 |  | Russia                          
|LLC Novaya svyaz                                                         |  | Russia                          
|LLC Gelios-TV                                                            |  | Russia                          
|LLC NeoTel                                                               |  | Azerbaijani Republic (Baku city)
|Millicom Lao Co., Ltd.                                                   |  | Laos                            
|VimpelCom Holding Laos B.V.                                              |  | Netherlands                     
|2Day Telecom LLP                                                         |  | Kazakhstan                      
|S&G LLP                                                                  |  | Kazakhstan                      
|WIND Telecom S.p.A.                                                      |  | Italy                           
|Weather Capital S.à.r.l                                                  |  | Luxembourg                      
|Klarolux Investments S.à.r.l                                             |  | Luxembourg                      
|Orascom Telecom Services Europe S.A.S                                    |  | France                          
|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                      
|Weather Capital Special Purpose II S.à.r.l                               |  | Luxembourg                      
|Orascom Telecom Holding S.A.E (OTH)                                      |  | Egypt                           
|Orascom Telecom Lebanon S.A.L.                                           |  | Lebanon                         
|International Wireless Communications Pakistan Limited                   |  | Malta                           
|Telecom Management Group Limited                                         |  | Malta                           
|Pakistan Mobile Communications Limited                                   |  | Pakistan                        
|Global Entity for Telecom Trade FZE                                      |  | UAE                             
|Business & Communication Systems (Pvt) Ltd                               |  | Pakistan                        
|Link Direct International (Private) Limited                              |  | Pakistan                        
|Z-WLL (Pvt) Ltd                                                          |  | Pakistan                        
|LinkdotNET Pakistan (Pvt) Ltd (formerly known as Dancom Online Services) |  | Pakistan                        
|LinkDotNet Telecom Limited                                               |  | Pakistan                        
|DV Wimax Com LTD                                                         |  | 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 Zimbabwe (Private) Limited                                         |  | Zimbabwe                      
|Kiaran Investments (private) Limited                                       |  | Zimbabwe                      
|Yarlside Investments (Private) Limited                                     |  | Zimbabwe                      
|Telecel Globe Limited                                                      |  | Malta                         
|Powercom (Proprietary) Ltd                                                 |  | Namibia                       
|Telecel Centrafrique S.A.                                                  |  | Central African Republic (CAR)
|U-com Burundi S.A.                                                         |  | Burundi                       
|Orascom Telecom Ventures Ltd.                                              |  | Malta                         
|Orascom Telecom Bangladesh Limited (OTBL)                                  |  | Bangladesh                    
|Oratel International Inc. Limited                                          |  | Malta                         
|Moga Holding Ltd                                                           |  | Malta                         
|Orascom Telecom Algeria S.p.A.                                             |  | Algeria                       
|Orascom Telecom Service Algeria                                            |  | Algeria                       
|OTH 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                         
|Orascom Holding Handset Investment Company S.A.E.                          |  | Egypt                         
|Ring Distribution S.A.E                                                    |  | Egypt                         
|Multi Media Mega Stores                                                    |  | Egypt                         
|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                      
|R&D S.à.r.l                                                                |  | Tunisia                       
|Ring Algeria LLC                                                           |  | Algeria                       
|Ring Maintenance (CaRing)                                                  |  | Algeria                       
|Ring Distribution (Private) Limited                                        |  | Bangladesh                    
|Ring Distribution Italy srl                                                |  | Italy                         
|Orascom Telecom Acquisition S.à.r.l                                        |  | Luxembourg                    
|Orascom Telecom One S.à.r.l                                                |  | Luxembourg                    
|Orascom Telecom Services L.L.C                                             |  | Egypt                         
|OT Wireless Europe S.A.S                                                   |  | France                        
|Orascom Telecom Wimax Limited                                              |  | UK                            
|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                    
|Wind Acquisition Finance S.A.                       |  | Luxembourg               
|International Telecommunications Consortium Limited |  | UK                       
|Consortium Algerien de Telecomunications S.p.a.     |  | Algeria                  
|Globalive Investment Holdings Corp.                 |  | Canada (Ontario)         
|Globalive Wireless Management Corp.                 |  | Canada (Ontario)         
|Wind Mobile Distribution Corp.                      |  | Canada (Ontario)         
|Globalive Telecom Holdings Corp.                    |  | Canada (Ontario)         
|Globalive Communications Holdings Ontario Inc.      |  | Canada (Ontario)         
|Globalive Communications Corp.                      |  | Canada (Nova Scotia)     
|Canada Payphone Corporation                         |  | Canada (British Columbia)
|OpCom Hospitality Solutions Inc.                    |  | Canada (Alberta)         
|International Calling Services Incorporated         |  | Canada (Ontario)         
|Globalive Communications Inc. (US)                  |  | USA (Delaware)           
|Canopco Inc. (US)                                   |  | USA (Delaware)           
|OneConnect Services Inc.                            |  | Canada (Ontario)         
|OneConnect Group Inc.                               |  | USA (Delaware)           
|2113659 Ontario Inc.                                |  | Canada (Ontario)         
|Yakquisition L.P.                                   |  | USA (Delaware)           
|GCC LP                                              |  | Canada (Ontario)         
|Yak Communications (Canada) Corp.                   |  | Canada (Nova Scotia)     
|3185692 Nova Scotia Company                         |  | Canada (Nova Scotia)     
|Yak Canada Communications Corp.                     |  | Canada (Ontario)         
|Ring Tunisia S.à.r.l (Ring Tunisie)                 |  | Tunisia                  
|Ring Distribution Tunisia                           |  | Tunisia                  
|Ring Distribution Detail S.à.r.l (Ring Retail)      |  | Tunisia