Altimo offers to buy rest of Orascom Telecom

News Wireless Global 1 APR 2013
Altimo offers to buy rest of Orascom Telecom
Russian investment company Altimo has made an offer to buy the shares it does not already own in Egypt-based international mobile group Orascom Telecom. Altimo is offering USD 0.70 a share, similar to Orascom's last closing price of EGP 4.41 the day before the announcement. The offer values all of Orascom at USD 3.67 billion. Altimo currently owns around 47.9 percent of Russian operator VimpelCom, which holds about 51.7 percent of Orascom. Orascom sold most of its assets to Vimpelcom earlier, but still controls mobile operations in Algeria, Bangladesh, Burundi, Canada, the Central African Republic, Pakistan and Zimbabwe.

Categories:

Mobile

Companies:

Altimo,  Orascom Telecom,  Vimpelcom

Regions:

Global

Tags:

Voice services, Data services, Messaging, Wireless, Consumer, Enterprise, M&A buyouts & divestments

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