VimpelCom has approached the markets of Africa and negotiated the acquisition of MTN, the biggest telecom operator in Africa, according to The Wall Street Journal. However, MTN’s capitalization is about USD 40 billion which appears to be too expensive for VimpelCom, but it might have attracted Altimo who own 44 percent of VimpelCom.
According to WSJ, VimpelCom negotiated the MTN purchase last month, but the parties failed to agree on the whereabouts of united company. VimpelCom declined to comment on the news yesterday and Altimo didn’t comment on it either.