The merger of Russian operator VimpelCom with Ukrainian mobile operator Kyivstar is moving a step forward with shareholders backing the deal and the withdrawal of the Farimex lawsuit.
At the end of the exchange offer, 97.29% of VimpelCom’s shareholders…
The merger of Russian operator VimpelCom with Ukrainian mobile operator Kyivstar is moving a step forward with shareholders backing the deal and the withdrawal of the Farimex lawsuit.
At the end of the exchange offer, 97.29% of VimpelCom’s shareholders had agreed to exchange their shares for stock in VimpelCom Ltd, the new entity to be created through the merger. The shareholders of the remaining 2.71% will now be offered a squeeze-out price.
The merger has been valued at US$22bn.
Meanwhile, Farimex, the little known company that had sued Telenor for delaying the entry of VimpelCom into Ukraine, has withdrawn its US$1.7bn lawsuit against the Norwegian operator. Telenor claimed that Farimex was acting on behalf of Alfa Group, which the latter has always denied.
Telenor will hold 38.84% of common shares and 35.42% of voting shares of VimpelCom Ltd, while Altimo will hold 38.46% and 43.89% respectively. The free floats will be 22.7% and 20.69% respectively
