AMSTERDAM, CAIRO and LONDON, Sept. 16, 2014 /PRNewswire/ -- 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.
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 in Russia, Italy, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe and the Central African Republic. VimpelCom's operations around the globe cover territory with a total population of approximately 754 million people. VimpelCom provides services under the "Beeline", "Kyivstar", "WIND", "Infostrada" "Mobilink", "Leo", "banglalink", "Telecel", and "Djezzy" brands. As of June 30, 2014 VimpelCom had 221 million mobile customers on a combined basis. VimpelCom is traded on the NASDAQ Global Stock Market under the symbol (VIP). For more information visit: http://www.vimpelcom.com
GTH, with more than 91 million customers, has established itself as a global brand and is considered today to be one of the largest and most diversified telecom operators. GTH operates mobile networks in high growth markets in the Middle East, Africa and Asia, having a total population under license of approximately 466 million as of June 30, 2014. GTH operates networks in Algeria ("Djezzy"), Pakistan ("Mobilink"), Bangladesh ("banglalink"), and has an indirect equity ownership in Telecel Zimbabwe (Zimbabwe) and through its subsidiary Telecel Globe, GTH also operates in Burundi and the Central African Republic. For more information visit: http://www.gtelecom.com
SOURCE VimpelCom Ltd.