Last month, Vimpelcom – which is US-listed and headquartered in the Netherlands but remains majority Russian-owned – and GTH jointly announced the sale of their entire interest in Canadian cellco Globalive Wireless (Wind Mobile) to its Canadian controlling shareholders and a group of investment funds for approximately CAD135 million (USD121.9 million), with the proceeds going to Vimpelcom in repayment of part of the debt owed to it.
Also, in August this year GTH approved the sale of 51% of Algerian cellco Djezzy (Orascom Telecom Algerie) to the Algerian National Investment Fund (Fonds National d’Investissement [FNI]) for USD2.64 billion, in addition to deals associated with the transaction. Pending final approval of the transaction, Vimpelcom/GTH will retain a 46% minority stake and management control of Djezzy.