Vimpelcom picks advisors for tower sale proposals

23 Oct 2015

Vimpelcom Ltd has lined up banks and advisers to explore options including a sale or an initial public offering (IPO) for around 50,000 cellular towers across Russia, Ukraine and CIS countries, according to sources familiar with the matter quoted by Bloomberg. The Russian-backed, Amsterdam-based group is seeking to reduce debt and costs via a divestment of the tower portfolio, potentially valued at more than USD5 billion, while the report links UBS Group, Bank of America’s Merrill Lynch and TAP Advisors with the proposals, all of which declined to comment. An e-mailed statement from Vimpelcom said: ‘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.’

Russia, VEON