The report quoted that Norway’s Telenor, which owns nearly 40% of VimpelCom, was not motivated to see out the merger, which faces barriers in Algeria as well as regulatory issues in other countries.
According to Sawiris, now, he doubts anything will come from the merger. Telenor is not motivated, as he sees it. Its 50-50 at best that anything will come of it.
Telenor has repeatedly aired doubts over the VimpelCom-Orascom deal. Last month it asked for clarification of the merger parameters before VimpelCom’s board makes a final decision on the deal.