Sawiris seeks 5B in damages for Algerias role in Djezzy saga
Naguib Sawiris’ Weather Investments is suing the Algerian government for US$5 billion in damages over …
Telenor claims right to VimpelCom holding
Reuters reports that Telenor said it has the right to hold its current stake in …
Russia files against Telenor stake increase in VimpelCom
Russian anti-trust regulators have filed a claim against Telenor’s recent increase in its shareholding in …
Telenor negative on revised Wind/VimpelCom deal
VimpelCom said that its board had given final approval for its proposed merger with Wind Telecom (formerly Weather Investments), which was swiftly followed by a statement from VimpelCom shareholder Telenor stating it will “try to stop the acquisition from being completed.” At the heart of Telenor’s discontent appears to be a disparity between economic and voting rights in the combined business.
Report: WIND Italy restructures debt
WIND, the Italian mobile operator owned by Egyptian billionaire Naguib Sawiris, plans to raise about EUR3.4 billion of loans to refinance senior debt, according to sources at Bloomberg.
VimpelCom and Orascom merge to create new mobile superpower
VimpelCom has confirmed it is to merge with Weather Investments – owner of Orascom Telecom – in a deal that will create the world’s fifth-largest mobile operator group. VimpelCom will acquire Naguib Sawiris’ Weather Investments, which owns 51.7 percent of Orascom Telecom and 100 percent of WIND Italy, with Weather taking a 20 percent economic interest in the enlarged VimpelCom group
VimpelCom owners voice concerns over Orascom/Weather deal
VimpelCom’s plans to acquire Orascom-owner Weather Investment could be in jeopardy, following reports that the Russian-based group’s two main shareholders have raised concerns over the US$6.6 billion deal.
Sawiris to quit all executive roles
Egyptian billionaire Naguib Sawiris said he will quit all executive roles at his businesses and focus his time on humanitarian work, following the sale of most of his assets to VimpelCom.