Sawiris Says Weather Investments Will Back Wind in Italian Market Growth

Egyptian billionaire Naguib Sawiris said Weather Investments SpA will continue to back mobile-phone operator Wind Telecomunicazioni SpA in Italy.

“We are and will continue to be long-term investors in the Italian market,” Weather Chairman Sawiris said, according to an e-mailed statement from Weather Investments received today. “We are also aiming to position Wind as the market consolidator in both fixed-line and mobile.”

Sawiris is in talks to merge the bulk of his telecommunications assets with Russian mobile operator VimpelCom Ltd., two people familiar with the talks said Aug. 20. Weather owns 51 percent of Orascom Telecom Holding SAE and Wind.

To contact the reporter on this story: Elisa Martinuzzi in Milan at emartinuzzi@bloomberg.net

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