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Monday, September 15, 2014

Vimpelcom to sell Wind Mobile stake to Canadian partner - source, (NASDAQ: VIP)

Vimpelcom Ltd has agreed to sell its stake in Canadian wireless carrier Wind Mobile to its current partner Globalive for around C$300 million ($272 million), a source with knowledge of the matter said on Monday. The Wall Street Journal had reported that the transaction would be partly funded by an investor group led by Canadian hedge fund West Face Capital Inc.Vimpelcom declined to comment. A spokeswoman for West Face was not immediately available for comment.(1 US dollar = 1.1048 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, 2100830 shares of VIP exchange hands on a given day and today's volume is recorded at 1888812.