Orascom Telecom Holding has denied holding any talks with Russian operator VimpelCom.
The Egyptian company issued the statement with the stock exchange after Russian reports suggested that Vimpelcom was seeking to acquire Italian operator Wind and 51% of…
Orascom Telecom Holding has denied holding any talks with Russian operator VimpelCom.
The Egyptian company issued the statement with the stock exchange after Russian reports suggested that Vimpelcom was seeking to acquire Italian operator Wind and 51% of Orascom Telecom in a deal worth US$6.5bn.
Alexey Subbotin, VimpelCom’s IR director, declined to comment on the speculation, but added that CEO Alexander Izosimov was on vacation until next week and that Henk Van Dalen, its new CFO, was set to start on September 1.
When asked whether VimpelCom Ltd would keep to its plans to focus its attention on Africa and Asia, he said: “We are looking for good opportunities in Asia and Africa, but our strategy is not to expand in Western Europe because of the high saturation of the market and heavy regulation.”
Telenor declined to comment on the speculation, while Altimo, Orascom and Weather Investments were not immediately available for comments.
