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Weather says still studying revised Vimpelcom bid

Vimpelcom in October announced the proposed acquisition of Weather assets.


December 27, 2010 2:02 by

Weather Investments, owned by Egyptian tycoon Naguib Sawiris, said it had received a revised offer from Vimpelcom  to buy most of its telecom assets but was still studying the offer before taking a decision.

Vimpelcom in October announced the proposed acquisition of Weather assets, including a controlling stake in Egyptian mobile firm Orascom Telecom  and all of Italian operator Wind.

Vimpelcom’s Norwegian shareholder Telenor later refused to give its support.

“Weather Investments confirms having received the offer from Vimpelcom. It is being carefully studied to ensure taking a decision in the best interest of its shareholders,” a Weather spokeswoman wrote in an e-mail.

“The decision will be taken very soon and will be communicated to Vimplecom’s management.”

A Weather official had said earlier this month the company would complete its review of the Vimpelcom offer on Dec. 24.

(Reporting by Patrick Werr; Editing by David Holmes)


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