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Vimpelcom board to review Weather deal in 2010-CEO

Izosimov reiterated that Vimpelcom was ready to sell Djezzy if the price was "adequate".


December 2, 2010 2:14 by

The supervisory board of Russian telecoms group Vimpelcom hopes to review a $6.6 billion acquisition of Weather Investments before the end of 2010, Chief Executive Alexander Izosimov said on Thursday.

The deal for a 51 percent stake in Orascom and Italy’s Wind has been clouded by uncertainty over the fate of Orascom’s most lucrative asset, Algerian unit Djezzy, which the Algerian government wants to nationalise.

Izosimov reiterated that Vimpelcom was ready to sell Djezzy if the price was “adequate”.

“In some way we will resolve this issue,” Izosimov told a news conference.

(Reporting by Anastasia Teterevleva; writing by Maria Kiselyova; editing by John Bowker)


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