VimpelCom Ltd.’s board will vote on a revised deal with a potentially lower price for Egyptian billionaire Naguib Sawiris’ phone assets on Jan. 16, according to two people familiar with the matter.
The main shareholders, Telenor ASA and Alfa Group’s Altimo, will meet in Amsterdam to discuss final terms, the people said, declining to be identified because the talks are confidential. The revised deal could still fall apart, the people said.
VimpelCom, Russia’s second-biggest mobile-phone operator, had sought to find a new agreement after its biggest shareholder, Telenor, in December rejected a $6.8 billion proposal, saying the transaction wouldn’t help the business or shareholders. VimpelCom Chief Executive Officer Alexander Izosimov was asked to revise the deal.
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