Telecel deal to be finalized

President Robert Mugabe's government this was week expected to pay VimpelCom Limited about $30 million in outstanding funds for a 60 percent stake in Telecel Zimbabwe.

Although company executives, including Chief Executive  Angeline Vere, were unreachable for comment, at least three independent sources said the National Social Security Authority - the backer of government front Zarnet- was expected this week to release the balance of a $40 million valuation for the telecommunications firm.

In one of the most unprecedented hostile takeovers in the country, VimpelCom was last year forced by the Harare administration to dispose of its Telecel take to little known Zarnet, despite the company being valued at over $300 million.