7 Aug 2013 13:24

Vimpelcom's Zimbabwean operator to renew license for $137.5 mln

MOSCOW. Aug 7 (Interfax) - Telecel Zimbabwe, which is part of Vimpelcom Ltd-controlled Orascom Telecom Holding (OTH), has agreed with the Zimbabwean authorities to renew its 2G and 3G license, OTH reported.

The new license is valid for 20 years and will cost the company $137.5 million.

Vimpelcom Ltd's strategy to dispose of its African business includes the possibility of selling local assets either in one or a series of transactions. OTH has been analyzing this strategy and the value of its operations in Burundi, Zimbabwe and the Central African Republic since last year.

Vimpelcom Ltd does around 70% of its business in Russia and Italy.