Skadden advised Altimo with respect to its 45% shareholding interest in VimpelCom Ltd., the New York Stock Exchange-listed emerging market telecom operator, in connection with VimpelCom's $7 billion business combination with the emerging markets and Italian telecom assets of Weather Investments, a private investment vehicle majority-owned by Egyptian entrepreneur Naguib Sawiris. The deal was announced on Oct. 4 and will make VimpelCom the fifth largest mobile operator in the world in terms of subscribers.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates