I like VIP but I feel it somewhat overvalued in the short term. If you want to spice up you portfolio try another Russian telecom, GLDN. It is still undervalued. Very nice day for GLDN today, though. It gained 3.98% during the regular hours + 2.37% in the after-hour trading! The stock is a Strong Buy for under $30.
Hate to rain on your parade but GLDN is no VIP. GLDN generally in the fixed line Telephone business, a segment that is shrinking world wide. VIP as you should know is a mobilphone co, a segment with a much brighter future. At something like 11 times earnings VIP would appear to be a decent buy.