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VimpelCom execs buy company from VEON for 130 bln rbl

ЅилайнMOSCOW, Nov 24 (PRIME) -- The top managers of Russian mobile operator VimpelCom, working under the Beeline brand, led by CEO Alexander Torbakhov has bought the company from its Amsterdam-based shareholder VEON for 130 billion rubles, the company said in a statement on Thursday.

УVEON Ltd., a global digital operator that provides converged connectivity and online services, today announces that following a competitive process, it has entered into an agreement to sell VEONТs Russian operations to certain senior members of the management team of VimpelCom, led by its current CEO Alexander Torbakhov,Ф the statement read.

VEON is to receive 130 billion rubles, and expects the deal to be closed no later than on June 1, 2023, with both sides having options for extensions if regulators fail to provide the necessary licenses on time, the company said.

Nothing will change for the clients, employees, and partners of Beeline, Torbakhov said as quoted by the company.

In reaction to the announcement, the shares of VEON gained 35.16% to 34.60 rubles as of 3.47 p.m. Moscow time, according to the trade data.

According to Amsterdam-based VEON, it initiated the sale of its Russian business, VimpelCom, earlier in November.

(60.5043 rubles Ц U.S. $1)


24.11.2022 16:27
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