vimpelcom ltd-spon adr (VIP) Key Developments
VimpelCom Ltd. Announces Executive Changes
Oct 5 15
Mikhail Gerchuk has been appointed the head of the new Eurasia business unit at Vimpelcom Ltd. The new unit will be responsible for activities in several CIS states. Gerchuk succeeds Andrey Patoka, the former executive VP for business development in CIS at Vimpelcom Ltd, who left the company. The Eurasia unit will manage the group's business in Uzbekistan, Kazakhstan, Ukraine, Kyrgyzstan, Tajikistan, Armenia and Georgia. Gerchuk earlier worked as CCO at Vimpelcom Ltd.
Telenor Wants To Sell Its 33% Stake In VimpelCom
Oct 5 15
Telenor ASA (OB:TEL) wants to sell its 33% stake in VimpelCom Ltd. (NasdaqGS:VIP) and is considering all options, it said on October 5, 2015.
Warid And Pakistan Mobile Reportedly Merged
Oct 2 15
Warid Telecom (Pvt) Limited and Pakistan Mobile Communications Ltd. have reportedly merged. VimpelCom Ltd. (NasdaqGS:VIP) had acquired Warid from Abu Dhabi Group through Pakistan Mobile, Daily Times learnt. “Mobilink’s bid for the merger and acquisition of Warid reached beyond the advance levels, as Mobilink had completed due-diligence of Warid two months ago, while the merger of both companies is expected to be announced officially in January 2016,” sources privy to the deal told. Sources said Warid would remain a separate entity and the name of company wouldn’t change initially and Abu Dhabi Group would keep about 20% to 30% shares as its ownership. According to sources, necessary arrangements and negotiations have almost been finalized and a purchase agreement is expected to be signed by the end of 2015. The consideration and other financial matters are not yet known. The Daily Times added that Mobilink’s spokesman declined to comment on the news saying, “We don’t comment on market rumors or speculation,” while Warid’s official also refused to comment on the ongoing developments.
Vimpelcom Expands Coverage of LTE Network in the Kemerovo Region
Sep 30 15
Vimpelcom expanded the coverage of its LTE network in the Kemerovo region. The expansion has been carried out using theLTE FDD standard, over the 800 MHz band. The operator earlier provided services over the 2,600 MHz band there. LTE FDD 800 MHz is currently used in the cities of Kemerovo and Novokuznetsk.
VimpelCom Assets May Reportedly Be Sold
Sep 18 15
VimpelCom Ltd. (NasdaqGS:VIP) may sell assets. Kommersant reported that non-profile assets of VimpelCom will be set out for sale or transferred for the outsourcing.