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VimpelCom and Global Telecom Holding to sell stake in Globalive group

Staff writer |
VimpelCom Ltd. and Global Telecom Holding S.A.E. have agreed to sell all of their debt and equity interest in the Globalive group of companies in Canada.

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This includes 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.

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