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With hedge fund manager, CNBC regular and long-time veteran of the Russian markets Tim Seymour at the helm, Emerging Money (http://www.emergingmoney.com) provides education, trading analysis and comprehensive views of emerging markets around the world. As economies in the BRIC group and beyond... More
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  • Time to bury the VIP - ORSTF deal 0 comments
    Nov 8, 2010 1:24 PM | about stocks: VIP, ORSTF.PK

    Now that even Naguib Sawiris is bearish on the prospect that his company Orascom Telecom will end up merging with Russian wireless giant Vimpelcom, the deal may be dead.

    The Egyptian billionaire is being quoted as saying that the odds of a merger between his ORSTF and VIP  are now 50/50 at best.

    Since both controlling partners in VIP have already expressed strong reservations about the deal — and minority shareholders have voted with their feet, pushing shares down 6% since the first rumors emerged — the real question is who is still betting that it will happen. Management? Nobody?

    Sawiris blames the threat that Algeria will nationalize ORSTF’s Algerian subsidiary before the deal closes for making the merger talks unravel.

    In any event, if the deal does not go through, suddenly VIP has a lot of ground to make up. There could be a relief rally ahead here. 

    Disclosure: no positions
    Themes: telecom, Russia, Africa, Algeria Stocks: VIP, ORSTF.PK
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