Press release from PR Newswire
VimpelCom Receives Key Regulatory Approvals for Combination With Wind Telecom S.p.A.
Thursday, March 17, 2011
AMSTERDAM and NEW YORK, March 17, 2011 /PRNewswire/ -- VimpelCom Ltd. ("VimpelCom" or the "Company") (NYSE: VIP) announced today that it has received all the necessary regulatory approvals needed to complete the combination of VimpelCom and Wind Telecom S.p.A. ("Wind Telecom") (the "Transaction").
Final approvals have now been received from the Italian Antitrust Authority, the Antimonopoly Committee of Ukraine, the Competition Commission of Pakistan and the Pakistan Telecommunications Authority. The completion of the Transaction remains subject to certain other conditions precedent, such as receipt of funds to finance the Transaction.
Confirmation of these regulatory approvals will allow the Company to proceed without delay to finalize its combination with Wind Telecom, which is expected to occur in the first half of 2011.
Cautionary statement regarding forward-looking statements
This announcement contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Any statement in this announcement that expresses or implies VimpelCom's intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. Forward-looking statements involve inherent risks, uncertainties and assumptions, including, without limitation, risks related to the timing or ultimate completion of the Transaction; the possibility that expected benefits may not materialize as expected; that, prior to the completion of the Transaction, VimpelCom's business or Wind Telecom's business may not perform as expected due to uncertainty; that the parties are unable to successfully implement integration strategies or otherwise realize the synergies anticipated for the Transaction; the possibility that Telenor may succeed in the arbitration against the Company and Altimo or bring other legal challenge (including requests for injunctive relief) against the Company, its officers or directors and/or Altimo in respect of its claims to pre-emptive rights or otherwise; and other risks and uncertainties that are beyond the parties' control. If such risks or uncertainties materialize or such assumptions prove incorrect, actual results could differ materially from those expressed or implied by such forward-looking statements and assumptions. Certain other risks that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in VimpelCom's proxy statement furnished to the U.S. Securities and Exchange Commission (the "SEC") under cover of Form 6-K on February 15, 2011, VimpelCom's registration statement on Form F-4 filed with the SEC, OJSC VimpelCom's public filings with the SEC, including its Annual Report on Form 20-F for the year ended December 31, 2009, and other public filings made by the VimpelCom with the SEC, which risk factors are incorporated herein by reference. The forward-looking statements contained in this announcement are made as of the date hereof, and VimpelCom expressly disclaim any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this announcement.
SOURCE VimpelCom Ltd.
For further information: Investor Relations: Alexey Subbotin, VimpelCom, Investor_Relations@vimpelcom.com, +31 20 79 77 200, +7 495 974 58 88, www.vimpelcom.com; Media and Public Relations, Elena Prokhorova, VimpelCom, firstname.lastname@example.org, +7 495 725 07 08; Financial Dynamics: UK: +44 (0) 20 7269 7180, US: +1-212-850-5723