Cairo - Mubasher: VimpelCom Ltd, a leading international provider of telecommunications services headquartered in Amsterdam, announced that its 51.9%-owned subsidiary Global Telecom Holding (GTH) has entered into an agreement with ZARNet (Private) Limited to sell its stake in Telecel International Limited for $40 million.
Telecel International owns 60% of Telecel Zimbabwe (Pvt) Ltd.
Transfer of ownership to ZARNet will occur after customary conditions are satisfied.
ZARNet is wholly owned by the Zimbabwean government via the Ministry of Information & Communication Technology, Postal and Courier Services.
