United States-based telecommunications company Vimpelcom is set to sell its Burundi and Central African Republic business interests to emerging markets specialists Neil Telecom.
A Reuters report cites two unnamed banking sources involved with the deal who say the deal for Vimpelcom’s Telecel Global is worth around US$100 million.
Once the deal has been finalised, Vimpelcom are thought to want to conclude a deal for Pakistan’s mobile operator Warid Telecom.
Although the US$100 million deal does not include Vimpelcom’s Zimbabwe operations, the company is understood to want to lose that as well.
One of sources told Reuters: “That sale will be to a separate set of buyers and discussions on that are currently ongoing.”
Citigroup are reportedly advising Vimpelcom on the purchase of Warid Telecom, while they are expected to be in direct competition with United Arab Emirates’ based Etisalat who have appointed Goldman Sachs to advise on their bid for the Pakistani operator.
Vimpelcom originally took on the Sub-Saharan assets in 2001 when it bought a 51 per cent stake in Egypt’s Orascom Telecom and all of Italy’s Wind for US$6 billion.
