Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, March 29, 2011

Vimpelcom hopes to close Wind deal within month, (NYSE: VIP), (ORTE), (TEL)

Vimpelcom (VIP.N) expects to complete its more than $6 billion deal for assets owned by the Egyptian tycoon Naguib Sawiris within a month, Alexander Izosimov, the company's chief executive said on Tuesday. The company has approved this month a deal for control of Orascom Telecom (ORTE.CA) and Italy's Wind to diversify into new markets and take on huge debt, having beaten off opposition from shareholder Telenor (TEL.OL). [ID:nLDE72G0QR] (Reporting by Anastasia Teterevleva; writing by John Bowker; editing by Lidia Kelly)

Source