Wind invites bidders for mast sale
VimpelCom’s Italian subsidiary Wind has invited bidders for the sale and lease-back of its 11,000 mobile masts, in a deal that could be worth €500 million.
According the reports, Wind is accelerating the sale of the infrastructure after its plans to merge with Hutchison’s 3 Italia stalled.
The deal has been hit by governance issues and the political disputes between Russian and western countries over Ukraine.
VimpelCom is looking to secure a deal for Wind’s masts in a bid to cut its debt, which stood at $14 billion in June. The Russian firm has invited 30 possible bidders for the process and has appointed Banca IMI and HSBC to advise on the sale.
When the deal goes through, Wind will own less than 50% of its masts.