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Vimpelcom exits Canadian market, sells Wind Mobile stake
2014-09-16 08:32:00| Telecompaper Headlines
(Telecompaper) VimpelCom is exiting the Canadian market and has agreed to sell its local operator Wind Mobile. VimpelCom and Global Telecom Holding have agreed to sell all of their debt and equity interest in Wind's holding company Globalive to the company's management and a number of investment funds for CAD 135 million. Wind CEO Anthony Lacaveraalready has a third of the equity and two-thirds of the voting rights in the company, through his company Globalive Capital, which is leading the takeover. Wind last reported The proceeds will go to VimpelCom in repayment of part of the debt owed the company. At the same time, GTH will be released from all of its obligations under the related shareholders agreement and certain debt obligations of Wind Canada. The transaction is expected to close shortly.
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Category:Telecommunications