PRESS: VimpelCom Ltd said having chosen buyer of Russian towers

MOSCOW, Sep 23 (PRIME) -- Amsterdam-based VimpelCom Ltd. has allegedly agreed to sell its tower bases in Russia to local company Russian Towers, winner of the tender, and the deal’s future will be settled at a meeting of VimpelCom Ltd.’s board of directors, scheduled for the end of September, business daily Vedomosti reported Friday citing several sources.

A person close to VimpelCom Ltd. confirmed that the process of sale of towers is coming to an end, but did not disclose the buyer.

One of the sources told the daily that the asset comprises more than 12,000 facilities. The possible amount of the deal was not disclosed, but according to earlier reports the operator wanted to get at least U.S. $500 million.

The towers with base stations of VimpelCom, Russian unit solely-owned by VimpelCom Ltd., were spun off into an independent firm, called the National Tower Company, in April. Their sale is a part of the international strategy of the Amsterdam-based telecom holding.

VimpelCom Ltd. announced a tender for the sale of its local towers in 2015, and the offer attracted several bidders, including Russian Towers, Vertikal, as well as the Russian Direct Investments Fund in a team with Arab fund Mubadala and Baring Vostok Capital. Japanese fund Mitsui was also interested in the asset.

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