LAHORE – Mobilink, Pakistan’s market leader in cellular services and a part of Orascom Telecom Holding (OTH) welcomes the positive vote expressed by the majority of VimpelCom shareholders in today’s Special General Meeting.
Following this favourable outcome, the management teams of VimpelCom and Wind Telecom will proceed in satisfying the conditions precedent for the completion of the Transaction, which is expected to take place in the first half of 2011.
Commenting on the decision which will create the world’s sixth largest mobile telecommunications carrier by subscribers, with pro forma net operating revenues of $21.3 billion and pro forma EBITDA of $9.4 billion for the year ended 31 December, 2009, Rashid Khan, President and CEO, Mobilink indicated, “The decision which is in favor of the merger is slated to change the global telecommunication scenario. As a key subsidiary of Orascom Telecom Holding, Mobilink welcomes this win and looks forward to becoming a part of one of the biggest telecom players in the world.”
