Altimo Acquires Additional Stake in VimpelCom

Skadden is representing Altimo, one of the principal shareholders in VimpelCom Ltd., the NYSE-listed mobile telecom operator, in its $3.6 billion acquisition of an additional stake in VimpelCom from Weather Investments II, a private investment vehicle majority-owned by Egyptian entrepreneur Naguib Sawiris, announced on August 15. As a result of the transaction, Altimo has increased its ownership in VimpelCom to 40.5 percent.