VimpelCom to create world's sixth largest mobile telecommunications carrier

VimpelCom to create world's sixth largest mobile telecommunications carrier

PanARMENIAN.Net - VimpelCom Ltd. (NYSE: VIP) announced that VimpelCom's Supervisory Board gave its final approval for the proposed combination of VimpelCom and WIND TELECOM S.p.A. (Wind Telecom, formerly Weather Investments S.p.A.).

Following completion of the transaction, VimpelCom will own, through Wind Telecom, 51.7% of Orascom Telecom Holding S.A.E. (Orascom Telecom) and 100% of WIND Telecomunicazioni S.p.A. (WindItaly). The combination of VimpelCom and Wind Telecom, as previously announced on October 4, 2010, will create the world's sixth largest mobile telecommunications carrier by subscribers with pro forma adjusted net operating revenues of US$21.3 billion and pro forma EBITDA of US$9.4 billion for the year ended 31 December 2009.

The enlarged company will operate in 19 countries around the world, covering a population of 838 million people, with over 173 million mobile subscribers.

VimpelCom Ltd. is a holding company controlling telecommunication assets in the CIS countries, Vietnam and Cambodia. Specifically, it is the owner of VimpelCom company, which operates under Beeline trademark in Armenia.

Wind Telecom is the owner of 100% shares of the third-largest mobile phone operator Wind Telecomunicazioni S.p.A in Italy and 51% of Orascom Telecom Holding (OTH), which owns cellular companies in Asia, Africa, Canada and Near East.

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