16 September 2014
VimpelCom Ltd. and Global Telecom Holding to Sell Their Interest in Wind Canada
VimpelCom Ltd. and Global Telecom Holding S.A.E. announce that they have agreed to sell all of their debt and equity interest in the Globalive group of companies in Canada.
Amsterdam and Cairo/London (September 16, 2014) - VimpelCom Ltd. (“VimpelCom”) and Global Telecom Holding S.A.E. (“GTH”) announce that they have agreed to sell all of their debt and equity interest (the “Interest”) in the Globalive group of companies in Canada, including Globalive Wireless Management Corp. (“Wind Canada”), the operator of the Wind Mobile cellular telephony service in Canada.
Globalive Capital (formerly AAL Holdings), the controlling shareholder of Wind Canada, and certain investment funds are acquiring the Interest for approximately CAD 135 million, with the proceeds going to VimpelCom in repayment of part of the debt owed to VimpelCom.
At the same time, GTH will be released from all of its obligations under the related Shareholders Agreement and certain debt obligations of Wind Canada. The transaction is expected to close shortly.
This press-release contains “forward-looking statements”, as the phrase is defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to the sale transaction discussed above. The forward-looking statements included in this press release are based on management’s best assessments of the current situation. The actual outcome may differ materially from these statements. There can be no assurance that the transaction will close on a timely basis or at all. Certain factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company’s Form 20-F and other public filings made by the Company with the SEC, which risk factors are incorporated herein by reference. The Company disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.
Notes to Editors
LetterOne Technology is an investment vehicle of LetterOne Group focused on opportunities in the global telecommunication sector. LetterOne Technology has two portfolio investments: VimpelCom Ltd., one of the world’s largest integrated telecoms services operators providing voice and data services, and Turkcell, the leading telecoms operator in Turkey.
VimpelCom is one of the world’s largest integrated telecommunications services operators providing voice and data services through a range of traditional and broadband mobile and fixed technologies.