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Vimpelcom Closes $6.5B Wind Merger
Vimpelcom has completed its $6.5 billion merger with Italian telecom operator.
Vimpelcomhas completed its $6.5 billion merger with Italian telecom operator,Wind Telecom,Bloombergreports. As per the agreement, the Russian wireless carrier will own 51.7% ofOrascom Telecom Holdingand 100% of Wind Telecom.
Orascom Telecom CEO,Khaled Bichara, has been appointed to the newly created position of president and COO of the new company. Amsterdam-based VimpelCom also plans to spin off theWind International Servicesunit of the Italian operations.
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