Cell operator Veon to promote Russian enterprise for about $2 billion By Stocksak

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MOSCOW (Stocksak) – Amsterdam-listed cell operator Veon on Thursday mentioned it would promote its Russian enterprise, Vimpelcom, to senior members of the administration staff, led by CEO Aleksander Torbakhov, for 130 billion roubles ($2.15 billion).

Veon operates its Beeline model via its subsidiary Vimpelcom in Russia, a market that accounts for about half of the group’s income.

Veon joins the rising record of Western corporations to eliminate property in Russia since Moscow despatched tens of hundreds of troops into Ukraine in late February.

The transaction is predicted to finish by June 1 subsequent yr, Veon mentioned.

“I’m assured that the agreed sale of Veon’s Russian operations to the Vimpelcom administration staff represents an optimum resolution for Veon, its Russian operations and the stakeholders of each corporations, together with prospects, shareholders and collectors, in addition to staff each in and out of doors of Russia,” CEO Kaan Terzioglu mentioned in an announcement.

($1 = 60.3500 roubles)

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