VimpelCom and Sawiris: Will the Deal Take Place?

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VimpelCom and Sawiris: Will the Deal Take Place? VimpelCom and Sawiris: Will the Deal Take Place?VimpelCom and Sawiris: Will the Deal Take Place?

 

19 December 2010

VimpelCom, the second largest mobile phone operator in Russia, put in doubt the deal with the telecoms assets of Naguib Sawiris, the Egyptian entrepreneur.
Shareholders of VimpelCom are warning that the deal may be cancelled despite the board is near to meet in Amsterdam on Tuesday to give the approval for the agreement.
Telenor and Altimo (shareholders in VimpelCom) declined to comment. And here is the comment of Mr. Sawiris : “We have shown extreme courage and extreme flexibility with this transaction. We do not think we gave anybody any reason not to go through with it.” In October 2010, VimpelCom demonstrated plans to partner with Weather, which owns Wind, 3d large mobile operator in Italy, and has a controlling share in Orascom Telecom, the Cairo-listed telecoms company with assets in Africa, the Middle East and Asia.

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