VimpelCom has sold 90 percent stake in tower business Galata, a fully owned subsidiary of WIND Telecommunication, to Abertis Telecom for 693 million euro.
Galata has 7,377 towers.
WIND will retain a 10 percent stake. WIND will enter into a tower services agreement for an initial term of 15 years with Galata for the provision of a range of services on the contributed sites and sites subsequently built by Galata hosting WIND equipment.
Proceeds from the transaction will be utilized by WIND to repay debt.
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