Vimpelcom poised to offload Beeline to unknown Saudi backer?

TMT Finance reports that Vimpelcom is close to agreeing terms for the sale of its Beeline unit in Cambodia. The buyer is rumoured to be Saudi-backed, although no further information regarding the sale process has been divulged. The withdrawal from Cambodia follows Vimpelcom’s April 2012 exit from Vietnam, when it sold its 49% stake in GTel Mobile to GTEL Transmit and Infrastructure Service One Member Company Limited. In October 2012 it was reported that talks in Cambodia and Laos had taken place with existing players looking to consolidate their position in the market.