Vimpelcom completes merger with Wind Telecom

Vimpelcom, Ltd.. "And WIND TELECOM SpA today announced the completion of the transaction (" Transaction ") to merge the two companies, which creates a new global telecommunications group.

The transaction, VimpelCom has, through Wind Telecom, 51,7% of the company «Orascom Telecom Holding SAE» («Orascom Telecom») and 100% «Wind Telecomunicazioni SpA» («Wind Italy»). The union of VimpelCom and «Wind Telecom» creates sixth largest mobile operator by subscribers in the world, providing services in 20 countries. On 31 December 2010 the total subscriber base reached 181 million subscribers.

March 17, 2011 the shareholders of VimpelCom approved the issuance of common and convertible preferred shares, thus opening the way for a global diversified platform. Former shareholders of Wind Telecom received 325,639,827 new ordinary shares of VimpelCom and 305 million of new convertible preferred stock of VimpelCom, 1,495 million U.S. dollars in cash and will receive certain assets to be allocated from the group Wind Telecom and transferred back to Weather Investments II S.a.rl ("Weather II").