Wind: “it’s business as usual” as major investor Orascom merges with Russia’s VimpelCom

A $6.5 billion merger between Russia’s VimpelCom and Orascom Telecom sees them become the 5th largest wireless provider in the world with 120 million subscribers. Orascom is the organization that heavily financed new wireless entrant Wind Mobile here in Canada and has a 65% equity stake in the company. One of the major questions was about ownership and control and if anything would change.

Chairman Anthony Lacavera said in a statement that “For Wind Mobile in Canada, it’s business as usual. There will be no change to our ownership and control. A stronger and more diversified Orascom Telecom that has even more scale globally, in fact has potential benefits for Wind.”

Source: Yahoo!