VimpelCom Ltd has launched a squeeze-out process to acquire the rest of the shares it does not own in Russian operator VimpelCom.
The company will pay Rbs11,800 (US$382.18) per share, meaning it will pay about US$470m for the remaining 2.13% stake.
The…
VimpelCom Ltd has launched a squeeze-out process to acquire the rest of the shares it does not own in Russian operator VimpelCom.
The company will pay Rbs11,800 (US$382.18) per share, meaning it will pay about US$470m for the remaining 2.13% stake.
The Bank of New York Mellon is processing the payments and converting the rouble amount into US dollars.
The squeeze-out price was determined as the market value of VimpelCom shares on February 28 by an independent Russian appraiser, with this appraisal supplemented by a value analysis by Deloitte and Touche CIS.
The squeeze-out process is expected to complete by early August.
Last year, Norway’s Telenor and Russia’s Alfa Group ended years of dispute by agreeing to merge their shareholding in VimpelCom and Ukainian mobile operator Kyivstar into a new entity, VimpelCom Ltd.
