VimpelCom mulls sale of African and Asian units

Russian operator keen to rationalise its operations, says FT report
VimpelCom is planning to sell various assets in Africa and Asia, the FT reported.
VimpelCom is planning to sell various assets in Africa and Asia, the FT reported.


Russian telecom operator, VimpelCom, is planning to sell several of its operations in Africa and Asia with the aim of rationalising its portfolio and reducing debt, according to a report from the Financial Times.

The telco has held talks with potential buyers of its sub-Saharan African units from Burundi and the Central African Republic, the report added. It is also expected to sell Telecel Zimbabwe.

The three businesses could be valued at more than $60 million, the report stated, citing a person with knowledge of the situation.

In Asia, VimelCom is looking to sell assets in Cambodia and Laos.

The development follows a period of rapid expansion at VimpelCom, including the $6.6 billion acquisition of Wind Telecom in April 2011, which creating the world's sixth largest mobile operator by subscriber numbers. The deal, which gave VimpelCom a controlling stake in Orascom Telecom, landed the telco several assets in Africa and Asia.

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