VimpelCom announces that its subsidiary banglalink wins 3G spectrum auction in Bangladesh
Cairo/London, September 8, 2013: Orascom Telecom Holding S.A.E (“Orascom Telecom”) announces that banglalink, its Bangladeshi subsidiary is officially one of the winners of the 3G spectrum auction, conducted by the Bangladesh Telecommunication Regulatory Commission (BTRC) at a formal ceremony today.
Under the terms of the auction, banglalink will own 5MHz block of 3G spectrum. Total price for the spectrum is valued at USD 110.25 million, inclusive of 5% Value Added Tax. The license is to be issued upon payment of the first installment of 60%, payable within 30 working days; the remaining 40% payment is to be made within 180 calendar days. The license shall be valid for 15 years – the Government will allow offering LTE and 4G services over 3G spectrums, as well as on the existing 2G spectrum, upon permission.
The awarding of the 3G spectrum license paves the way to launch 3G services in Bangladesh. banglalink is proud to be a part of this landmark journey, 3G being the next level of mobile technology, which will enable customers to experience unique and innovative services that rely on high speed data connectivity.
This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, relating the issuance of the 3G license pursuant to the BTRC auction and launch of 3G services in Bangladesh. These forward-looking statements are based on the best assessment of management. The actual outcome may differ materially from these statements. Certain factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in VimpelCom Ltd.’s Annual Report on Form 20-F for the year ended December 31, 2012 and other public filings made by VimpelCom Ltd. with the SEC, which risk factors are incorporated herein by reference. VimpelCom Ltd. disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.
About Orascom Telecom:
Orascom Telecom is a leading international telecommunications company operating GSM networks in high growth markets in the Middle East, Africa and Asia, having a total population under license of approximately 459 million with an average mobile telephony penetration of approximately 53% as of June 30th, 2013. Orascom Telecom operates GSM networks in Algeria (“OTA”), Pakistan (“Mobilink”) and Bangladesh (“banglalink”) and has an indirect equity shareholding in Globalive Wireless Canada (“Wind Mobile”). In addition it has an indirect equity ownership in Telecel Zimbabwe (Zimbabwe) and through its subsidiary Telecel Globe, OTH also operates in Burundi and the Central African Republic. Orascom Telecom reached over 86 million subscribers as of June 30th, 2013.
Orascom Telecom is traded on the Egyptian Exchange under the symbol (ORTE.CA, ORAT EY), and on the London Stock Exchange, its GDRs are traded under the symbol (ORTEq.L, OTLD LI).
Investor Relations Contacts:
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