Russian firm to buy Wind Canada's backer

MOSCOW – Russia’s VimpelCom said today it would buy control of Orascom Telecom for a reported US$6.6 billion, creating the world’s fifth-largest mobile telecom operator with about 120 million subscribers.Together, the new company would have pro forma net operating revenues of US$21.5 billion and pro forma EBITDA of US$9.5 billion for the year ended December 31, 2009.At the closing of the transaction, VimpelCom will own 51.7% of Orascom Telecom Holding and 100% of Wind Telecomunicazioni (“Wind Italy”). It appears it will also take control of the 65% interest Orascom has in Canadian mobile operator Wind Canada.“For Wind Mobile in Canada,...