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. Last Updated: 07/27/2016

VimpelCom to Sell Units

Mobile operator VimpelCom is set to sell a number of businesses in Asia and Africa to focus on its core markets, such as Russia and Italy, the Financial Times reported Monday.

The company is holding talks with potential buyers for its assets in Burundi and the Central African Republic and is also looking to sell Telecel Zimbabwe after resolving ownership issues, the paper said.

Together, the three businesses could be valued at more than $60 million, the Financial Times reported, citing a source.

VimpelCom is also looking to sell its units in Cambodia, where it has about 1 million customers, and Laos, with about 400,000 subscribers, the paper said.

However, the company is expected to retain some strategic growth-market businesses, such as in Algeria.

(Reuters)

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