Russian mobile operator Vimpelcom may need to revise its US$6.6bn offer to acquire Egyptian tycoon Naguib Sawiris’ telecoms assets, reported the Financial Times.
According to the report, Norwegian incumbent Telenor, which is Vimpelcom’s second-largest…
Russian mobile operator Vimpelcom may need to revise its US$6.6bn offer to acquire Egyptian tycoon Naguib Sawiris’ telecoms assets, reported the Financial Times.
According to the report, Norwegian incumbent Telenor, which is Vimpelcom’s second-largest shareholder, has signalled uncertainty about whether three of the Sawiris assets would form part of the acquisition.
VimpelCom outlined plans last week to acquire Weather Investments, the Sawiris investment vehicle that owns Italian mobile operator Wind, and 51.7% of Egypt’s Orascom Telecom.
However, Telenor CEO Jon Fredrik Baksaas is cited in the FT saying the deal’s terms may need to be revised if the Algiers government presses ahead with threats to nationalise Dzezzy, Orascom’s Algerian mobile operator subsidiary.
Baksaas is also reportedly concerned that regulators may block Vimpelcom’s acquisition of Orascom’s mobile businesses in Pakistan and Bangladesh.
Telenor was unable to comment before the deadline.
