Egyptian tycoon Naguib Sawiris said on Thursday he was committed to the Italian telecoms market, amid speculation that Russian group Vimpelcom Ltd was in talks to buy assets from him.
Banking sources have said Vimpelcom is in talks to buy Wind, Italy’s No. 3 mobile operator, and 51 percent of Egyptian group Orascom Telecom from Sawiris.
"We are and we will be investors over the long term in the Italian market focusing on our strategic paradigm to grow Wind from ‘Good’ to ‘Great’," Sawiris said in a statement from his Weather holding company.
"We are also aiming to position Wind as the market consolidator in both fixed line and mobile, in addition to our serious intention to invest in the fourth-generation telecom network."
Weather issued the statement after Sawiris met Wind management.
Russian daily Vedomosti reported this month that Vimpelcom’s board had provisionally approved the purchase of Wind and a stake in Orascom Telecom.
