Egypt's Sawiris in talks over VimpelCom merger

21 August 2010

Egyptian billionaire Naguib Sawiris is in talks to merge the bulk of his telecoms assets with Russian mobile-phone firm VimpelCom, Bloomberg has reported, citing two people familiar with the matter. The transaction could create a company worth more than $25bn, with a combined total mobile subscriber base of more than 200 million customers and give VimpelCom access to markets in the Middle East.

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