Telenor will purchase 3.5 per cent of Vimplecom after Naguib Sawiris agreed to sell part of its share at $113.6 million
Telecoms firm Telenor will purchase another 3.5 per cent of Vimpelcom after Egyptian tycoon Naguib Sawiris' Weather Investments agreed to exercise a sell option at a price of $113.6 million, Telenor said on Thursday.
Telenor, which already holds 39.5 per cent of Vimpelcom, expects the deal to close on or before 1 October.
Altimo, part of Russian billionaire Mikhail Fridman's Alfa Group, raised its stake in Vimpelcom to 40.5 per cent on Wednesday after buying 14.8 per cent of the firm from Weather Investments.
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