Vimpelcom, GTH to sell Wind Canada stake for $122 mln

Tue Sep 16, 2014 2:33am EDT
 
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Sept 16 (Reuters) - Vimpelcom Ltd and Global Telecom Holding SAE (GTH) said they have agreed to sell their stake in Canadian wireless carrier Wind Mobile to Globalive Capital and a group of investment funds for about C$135 million ($122 million).

Globalive, which is the controlling shareholder of Wind Canada, will buy all of Vimpelcom and Global Telecom Holding's debt and equity interest in Wind Canada, Vimpelcom and GTH said in a statement on Tuesday.

Reuters reported on Monday that Vimpelcom has agreed to sell its majority stake in Wind Mobile to Globalive.

Globalive, a domestic telecom provider led by entrepreneur Anthony Lacavera, was the face of the Wind Canada business and paid more than C$442 million in 2008 for the airwaves that allowed Wind to launch in Ontario, Alberta and British Columbia. (1 US dollar = 1.1061 Canadian dollar) (Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier)