Telecom network operator VimpelCom said its subsidiary Global Telecom Holding (GTH) has sold its stake in Telecel International to ZARNet for $40 million.
Telecel International owns 60 percent stake in Telecel Zimbabwe. The Zimbabwe Government owns ZARNet.
GTH, which is 51.9 percent owned by VimpelCom, operates mobile networks in Algeria (Djezzy), Pakistan (Mobilink), and Bangladesh (Banglalink) with more than 84 million customers as of September 30, 2015.
VimpelCom had 217 million mobile customers and 5.8 million fixed-line broadband customers on a combined basis as of September 30, 2015.
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