Breaking News


VimpelCom Drops as Profit Falls 79% on Debt, Expansion Costs

VimpelCom Ltd. (VIP), Russia’s third- biggest mobile carrier by subscribers, dropped for the first day in three after third-quarter profit plunged 79 percent as the company increased spending on expansion.

American depositary receipts of VimpelCom fell 2.3 percent to $11 at the close of trading in New York. Net income declined to $104 million from $496 million a year earlier as interest expenses increased and movements in the Egyptian pound and euro hurt results, Amsterdam-based VimpelCom said today in a statement.

To contact the reporters on this story: Ksenia Galouchko in New York at

To contact the editor responsible for this story: David Papadopoulos in New York at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.