Egyptian group Orascom Telecom will hold a shareholder meeting on 14 April to approve a split of the company and a capital increase, it said on Tuesday.

Financial regulator EFSA has approved the meeting at which Orascom Telecom will seek to boost its capital to 14 billion Egyptian pounds (US$2.35 billion) from 7.5 billion to fund its debt as well as divide the company into two.

Russian mobile operator Vimpelcom shareholders have approved a $6 billion-plus purchase of Wind Telecom, which owns OT, creating one of the world's biggest mobile operators by number of subscribers.