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Russia’s VimpelCom to acquire WIND Telecom for $6 billion

Updated Dec 19th, 2018 7:07PM EST

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WIND Telecom SpA announced on Thursday that the shareholders of Russian mobile operator VimpelCom have voted to approve the acquisition of WIND Telecom for $6 billion. VimpelCom said regulators approved the acquisition as well. The deal covers all of WIND Telecom’s assets, which includes Orascom Telecom, a major WIND Mobile shareholder, and VimpelCom will add nine new markets including Pakistan, Bangladesh, Burundi, Italy and Canada to the eleven it already covers. When finalized, the purchase will make VimpelCom the world’s fifth largest mobile Teleco with more than 173 million subscribers. “This is great news for us. Our partner, Orascom, will be even larger and stronger as a financial partner. This gives us more leverage and increased scale with telecom network equipment manufacturers and more importantly, for devices including handsets and tablets,” said Anthony Lacavera, WIND Mobile’s chairman, adding that the purchase will give WIND more access to long distance roaming services. Lacavera said he would provide more information as new details on the acquisition emerge.

Thanks, Kelvin


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