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Tuesday, September 16, 2014

Vimpelcom, GTH to sell Wind Canada stake for $122 mln, (NASDAQ: VIP)

Vimpelcom Ltd and Global Telecom Holding SAE (GTH) said they have agreed to sell their stake in Canadian wireless carrier Wind Mobile to Globalive Capital and a group of investment funds for about C$135 million ($122 million). Globalive, which is the controlling shareholder of Wind Canada, will purchase all of Vimpelcom and Global Telecom Holding's debt and equity interest in Wind Canada, Vimpelcom and GTH said in a statement on Tuesday.Reuters reported on Monday that Vimpelcom has agreed to sell its majority stake in Wind Mobile to Globalive.Globalive, a domestic telecom provider led by entrepreneur Anthony Lacavera, was the face of the Wind Canada business and paid more than C$442 million in 2008 for the airwaves that allowed Wind to launch in Ontario, Alberta and British Columbia. (1 US dollar = 1.1061 Canadian dollar)

VimpelCom Ltd. (VimpelCom) is a holding company. The Company operates in Mobile Telecommunications Businessand Fixed-Line Telecommunications and Fixed Internet Business. Shares of VIP fell by 2.78% or $-0.24/share to $8.38. In the past year, the shares have traded as low as $7.53 and as high as $14.74. On average, 2090220 shares of VIP exchange hands on a given day and today's volume is recorded at 1888812.