VimpelCom could be set to sell fixed-line broadband business
Russian operator VimpelCom could be set to sell its fixed-line retail broadband business in Russia in a bid to focus on its mobile business.
The assets are reportedly worth approximately $1 billion, and would leave the company with its mobile unit, in addition to stakes in international groups including Egyptian firm Orascom Telecom and Italy-based Wind.
In a recent strategy update, VimpelCom confirmed its intentions to focus on mobile with a selective presence in fixed line. This could mean the company retains corporate fixed-line clients even if it proceeds with the divestment.
Sources claim VimpelCom has already held talks with possible buyers, but the company has thus far declined to comment.
The bulk of VimpelCom’s 2011 revenue, which stood at $23.5 billion, came from the mobile sector.