All in: investment bank JPMorgan Chase will help Telenor sell 33% of Vimpelcom shares
The Norwegian mobile operator Telenor is the only shareholder of Vimpelcom Ltd. who still have preferred stock. He has 305 million of such securities. Vimpelcom preferred shares do not give economic rights - in particular, dividends are not accrued on them; but they, like the ordinary ones, give the right to vote at the shareholders' meeting.
As conceived by Vimpelcom, it was possible to convert them into ordinary ones no later than April 14th. To do this, it was necessary to purchase an additional issue of ordinary shares at the market price.
Since Telenor did not use the right of conversion, its preferred shares will be redeemed, and its share in the voting shares will be equal to the economic one (these are 33% of the shares in the amount of $ 2.06 billion).
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Now, Bloomberg reported that Telenor has hired investment bank JPMorgan Chase & Co. for the sale of all 33% of the shares. Telenor is serious: if the company does not find a buyer, it will try to sell part of the share on the open market.
In April 2016, Telenor CEO Sigve Brekke announced that the company had found potential investors with whom it wants to sell its stake “soon” and for a “fair price”, RBC reminds . Among the reasons for selling the stake, Brekke called the impossibility of influencing Vimpelcom’s operations. After the sale of shares in the holding company, Norwegians can buy assets in emerging markets - for example, in Indonesia, Vietnam and the Philippines, Brekke said.
Vimpelcom is also looking for buyers for its shares. Morgan Stanley bank holding will help the operator with stock valuation and customer search.
The main owner of the holding - about 56% in ordinary shares, almost 48% in voters - is LetterOne of Mikhail Friedman, German Khan and Alexei Kuzmichev. The fact that the Norwegian Telenor intends to sell its stake in Vimpelcom, whose shareholder has been for more than 15 years, became known in October 2015. The operator then invested 15 billion NOK (approximately $ 1.8 billion) at that time, receiving 20 billion crowns ($ 2.4 billion) in dividends.
As conceived by Vimpelcom, it was possible to convert them into ordinary ones no later than April 14th. To do this, it was necessary to purchase an additional issue of ordinary shares at the market price.
Since Telenor did not use the right of conversion, its preferred shares will be redeemed, and its share in the voting shares will be equal to the economic one (these are 33% of the shares in the amount of $ 2.06 billion).
')
Now, Bloomberg reported that Telenor has hired investment bank JPMorgan Chase & Co. for the sale of all 33% of the shares. Telenor is serious: if the company does not find a buyer, it will try to sell part of the share on the open market.
In April 2016, Telenor CEO Sigve Brekke announced that the company had found potential investors with whom it wants to sell its stake “soon” and for a “fair price”, RBC reminds . Among the reasons for selling the stake, Brekke called the impossibility of influencing Vimpelcom’s operations. After the sale of shares in the holding company, Norwegians can buy assets in emerging markets - for example, in Indonesia, Vietnam and the Philippines, Brekke said.
Vimpelcom is also looking for buyers for its shares. Morgan Stanley bank holding will help the operator with stock valuation and customer search.
The main owner of the holding - about 56% in ordinary shares, almost 48% in voters - is LetterOne of Mikhail Friedman, German Khan and Alexei Kuzmichev. The fact that the Norwegian Telenor intends to sell its stake in Vimpelcom, whose shareholder has been for more than 15 years, became known in October 2015. The operator then invested 15 billion NOK (approximately $ 1.8 billion) at that time, receiving 20 billion crowns ($ 2.4 billion) in dividends.
Source: https://habr.com/ru/post/300644/
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