VimpelCom said to consider sale of 50,000 towers
VimpelCom is reportedly considering a sale or an initial public offering (IPO) for approximately 50,000 phone towers in Russia and former Soviet Union republics.
If successful, the deal – which could be valued at over $5 billion – could go towards raising funds as well as reducing costs and debt for the operator, according to Bloomberg.
“We continue to monitor trends in the global telecoms market and looking at effective business models for tower infrastructure, which help reduce costs and construction time, aid geographical expansion and increase quality for consumers at an attractive price,” said the company.
Vimpelcom could also be considering the creation of a holding company with an industrial or financial partner, sources told Bloomberg.
In March 2015, VimpelCom sold its 90% stake in Italian unit Wind to Spain’s Abertis for €693 million in a bid to repay its debt.