Akin Gump Reps VimpelCom In $1.8B Weather Deal

Law360, New York (October 4, 2010, 7:27 PM EDT) -- Russian cell phone service provider VimpelCom Ltd. agreed Monday to plunk down $1.8 billion for telecommunications holding company Weather Investments SpA, in a deal that will reportedly create the world’s fifth-largest mobile carrier by subscribers.

Under the terms of the transaction, Weather investors will receive 325.6 million shares of newly issued stock in VimpelCom, representing a 20 percent economic stake and an 18.5 percent voting stake, as well as $1.8 billion in cash. Two Weather representatives will also be added to the telecommunications company's current nine-member...
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