The merger between Vimpelcom Ltd. and Orascom Telecom depends on Telenor, which owns close to 40% of VimpelCom.
Egyptian billionaire Naguib Sawiris told that he won’t force through the deal if Telenor doesn’t wish it. VimpelCom’s board has asked management to negotiate a definite agreement in which several factors must be clarified before final approval of the deal.
He is convinced that Telenor’s Chief Executive Officer Jon Fredrik Baksaas doesn’t want the transaction to go through. Telenor is concerned about the possible move by the Algerian government to nationalize Orascom Telecom Algeria and also about potential regulatory objections in Pakistan and Bangladesh.
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