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Vimpelcom fails to reach deal on Wind, 3 Italia merger

2014-10-28 09:38:00| Telecompaper Headlines

(Telecompaper) The possibility of a merger between Wind and 3 Italia, the Italian mobile phone units of Vimpelcom and Hutchison Whampoa, has been called off by Vimpelcom after the companies failed to reach an agreement. Without identifying the potential partner, Vimpelcom confirmed in a statement that it had "held discussions to explore the potential value which would accrue to shareholders through a 50-50 joint venture in Italy," going on to add that "no conclusion to these discussions was reached." The companies have been holding on-off talks since December, with Wind's debt of around EUR 9.5 billion representing the main a hurdle to a deal, but the debt refinancing plan implemented by Vimpelcom in April gave fresh impetus to a possible merger, with Italian press reports stating that Goldman Sachs and Deutsche Bank had been working on behalf of 3 Italia and Wind respectively to iron out any remaining problems. In its statement Vimpelcom added that it will continue to "explore value-adding transactions."

Tags: deal italia reach wind

VimpelCom Is Poised For A Significant Rebound

2014-10-28 04:20:12| Telecom - Topix.net

VimpelCom's performance in Russia has lagged, but a turnaround has begun under new leadership and a customer-focused strategy. An exit from WIND Italy could potentially provide a quick and sharp rise in the share price as the company sheds half its debt and resumes sizable dividend payments.

Tags: significant poised rebound vimpelcom

Vimpelcom sells telecom units in Burundi, Central African Republic

2014-10-20 16:42:09| Telecom - Topix.net

International telecoms firm Vimpelcom has sold two African businesses, in Central African Republic and Burundi, for $65 million to Econet Wireless Global, it said on Monday, part of a strategic review of its assets worldwide. Last year Vimpelcom agreed to sell the two businesses to another company - Neil Telecom, an emerging market-focused telecoms venture run by African investor Laurent Fouchers, banking sources had previously said.

Tags: central units republic african

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.

Tags: market mobile wind canadian