VimpelCom and Orascom are talking! If you remember, the $25 billion rumor proved to be true – the newly formed VimpelCom wants Orascom’s assets in Italy (Wind) and also 51% stake in Orascom itself.
According to Moscow-based newspaper Vedomosti, VimpelCom’s board met in Amsterdam last week to discuss the deal. The company’s two main shareholders — Russia’s Alfa Group and Norway’s Telenor — support the merger “in principle.”
At the same time, in an interview with Canada’s Globe and Mail, Orascom chairman Naguib Sawiris confirmed the talks with VimpelCom, adding: “We are not only talking to them, we are talking to anybody.” However, he noted that the priority for the group was to solve problems in Algeria where the government has banned Orascom from selling its Algerian network to a third party.
We’ll definitely follow where this goes and keep you guys and gals in the loop. As you can imagine, potentially a new giant mobile group is emerging as we speak…
[Via: MobileBusinessBriefing]