Russian company VimpelCom Ltd is close to signing a non-binding term sheet to acquire Weather Investments, according to Reuters quoting Il Sole 24 Ore reports.
Weather Invetsment’s owner, Egyptian businessman Naguib Sawiris, has reportedly hired…
Russian company VimpelCom Ltd is close to signing a non-binding term sheet to acquire Weather Investments, according to Reuters quoting Il Sole 24 Ore reports.
Weather Invetsment’s owner, Egyptian businessman Naguib Sawiris, has reportedly hired Citigroup, Deutsche Bank and Lazard to sell the company, which controls Italian operator Wind, Greek operator Wind Hellas and Orascom Telecom Holding.
An OTH spokeswoman said that Orascom was not in talks with VimpelCom, reitering last Thursday’s stock market announcement, which according to her “still stands.”
Last week, Reuters had already reported that VimpelCom Ltd was in talks to buy Wind and Weather Investments’ 50% plus one share in OTH in deal that could be worth US$6.5bn.
VimpelCom declined to comment.
