Vimpelcom shareholders okay Wind Telecom purchase: Telenor

17th March 2011, Comments 0 comments

Russia's Vimpelcom approved Thursday a 6.5-billion-dollar deal to buy Wind Telecom, said Norway's Telenor, a major shareholder of Vimpelcom which staunchly opposes the deal.

"Telenor acknowledges that a majority of the shareholders, as expected, have decided to carry out the acquisition," it said in a statement.

The Norwegian company is Vimpelcom's second largest shareholder and has repeatedly said it opposed the deal, saying it made no strategic or financial sense.

The purchase would create the world's fifth-largest telecoms operator.

Telenor will see its stock in Vimpelcom diluted by the deal, but stressed it "remains committed to VimpelCom."

© 2011 AFP

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