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VimpelCom to sell Laos operations to local govt for $22 million

Staff Writer |
VEON announced that its wholly owned subsidiary VimpelCom Holding Laos has entered into an agreement to sell its 78% stake in VimpelCom Lao to the government for gross proceeds of $22 million.

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Following the sale, the Government of the Lao PDR will own 100% of the share capital of VimpelCom Laos.

The sale of VEON’s operations in the Lao PDR is consistent with the Group’s strategy to dispose of non-core assets. As at 30 June 2017, VimpelCom Lao had 289,000 customers.

Transfer of ownership of VimpelCom Laos to the Government of the Lao PDR is subject to the satisfaction of certain conditions, including receipt of necessary corporate and regulatory approvals.

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