Russian mobile operator Vimpelcom’s board of directors was due to meet today in Amsterdam to discuss a possible acquisition of Orascom or its subsidiaries, reported Reuters citing local paper Vedomosti.
In previous weeks, there have been regular reports…
Russian mobile operator Vimpelcom’s board of directors was due to meet today in Amsterdam to discuss a possible acquisition of Orascom or its subsidiaries, reported Reuters citing local paper Vedomosti.
In previous weeks, there have been regular reports suggesting that the Russian operator has been in talks regarding the purchase of 100% of Italian mobile operator Wind and 51% of Egypt’s Orascom Telecom Holding. Both targets are part of Weather Investments, which is controlled by Egyptian businessman Naguib Sawiris.
According to one translation of the report, the possibility of an acquisition was not put to a vote, but was discussed in detail during the meeting.
Persistent sale rumours forced Orascom earlier this month to issue a statement to Egypt’s CASE stock exchange to deny being involved in any talks with Vimpelcom.
Morgan Stanley and White & Case are advising Wind Hellas on a sale or strategic investment.
A spokesperson for VimpelCom declined to comment on the recent development. Orascom and Wind were unavailable to comment before the press deadline.
