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Vimpelcom seeks buyer for Wind Mobile - report
2013-03-25 09:45:00| Telecompaper Headlines
(Telecompaper) VimpelCom is looking for a buyer for its Canadian subsidiary Wind Mobile, the Globe and Mail reports, citing Canaccord Genuity analyst Dvai Ghose and unnamed sources. Ghose wrote that initial bids valuing Wind at CAD 500 million to CAD 1 billion were due to begin on 22 March. Wind CEO Anthony Lacavera's holding company, AAL, is reportedly mulling a joint bid with Accelero Capital, the investment company of Egyptian telecom magnate Naguib Sawiris. VimpelCom, which would not comment on the matter, requires regulatory approval of a deal announced in January to gain control of the Wind from Lacavera before it can complete the sale. Lacavera has said he intended to step down as Wind CEO once the deal is approved. VimpelCom has reportedly hired UBS to work on the sale. Rival new entrant Mobilicity is also said to be considering a bid.
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Category:Telecommunications