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Telenor starts selling Vimpelcom shares
2016-09-12 12:55:00| Telecompaper Headlines
(Telecompaper) Telenor said that it has commenced a public offering in the US of 142.5 million of its Vimpelcom American Depository Shares (ADS), at a price yet undetermined. Telenor currently owns approximately 580 million ADS, or 33 percent of Vimpelcom's total outstanding common shares. This transaction represents 24.5 percent of Telenor's holding, or 8.1 percent of VimpelCom's outstanding shares. At Vimpelcom;s last closing share price of USD 4.19 per share, the sale will raise Telenor nearly USD 600 million before transaction fees.
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Category:Telecommunications