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Telecom VimpelCom Soars On Italy Merger Speculation

2015-07-29 23:46:07| Telecom - Topix.net

VimpelCom shares are up more than 14% on news that it may combine its wireless business with that of CK Hutchison Holdings in Italy. Hong Kong based CK Hutchinson is controlled by billionaire Li Ka-shing , and Amsterdam-based VimpelCom's largest shareholders include Russian billionaire Mikhail Fridman , Bloomberg reported earlier today.

Tags: italy telecom merger speculation

 

09:45 U.S. request to block $300 million in regards to Vimpelcom (TM Beeline) in Uzbekistan

2015-07-01 10:09:11| Telecom - Topix.net

The U.S. Department of Justice turned to the court for blocking $300 million on investigation of bribery in the telecommunications at the market of Uzbekistan with the participation of Russian "VimpelCom" and MTS, said agency Bloomberg on Tuesday. The companies created a network of front companies and signed a number of documents on consulting services in order to transfer bribery to the relatives of President Islam Karimov in exchange of the access to telecommunication market of Uzbekistan.

Tags: request million block uzbekistan

 
 

Vimpelcom, Hutchison confirm Wind-3 Italia merger talks

2015-05-14 09:17:00| Telecompaper Headlines

(Telecompaper) Hutchison Whampoa and VimpelCom have released statements confirming negotiations to merge their respective Italian mobile phone units, 3 Italia and Wind Telecomunicazioni. "We are in discussions with Hutchison regarding a possible equal joint venture between 3 Italia SpA and Vimpelcom's subsidiary Wind Telecommunicazioni SpA," said VimpelCom, adding that "there can be no assurances that an agreement will be signed and any transaction would be subject to, among other things, achieving satisfactory debt levels and obtaining all required corporate and regulatory approvals." Hutchison also issued a statement to inform shareholders and investors about "exploratory negotiations with VimpelCom". The companies have been holding on-off talks since December 2013, with Wind's net debt level and the exact split of ownership representing the main hurdles to a deal.

Tags: italia confirm talks merger

 

Vimpelcom Q1 revenues fall 30% on stronger dollar

2015-05-13 08:47:00| Telecompaper Headlines

(Telecompaper) Vimpelcom reported a sharp fall in first-quarter results, hurt by the stronger dollar. Revenues fell 30 percent to USD 3.515 billion, and EBITDA dropped 33 percent to USD 1.396 billion. On an organic basis, excluding the currency impact, service revenue fell 2 percent, with Russia stable, Italy down 5 percent, Algeria falling 11 percent, Pakistan down 4 percent, Ukraine up 5 percent and Bangladesh growing 10 percent. Net profit improved to USD 184 million from USD 38 million a year ago. Vimpelcom reduced capital expenditure by 44 percent to USD 407 million, and operating cash flow was down 27 percent to USD 989 million. The company's net debt ratio was stable at 2.4 times EBITDA. Vimpelcom said the results were in line with expectations with most of businesses performing in line with or better than their local markets. The stronger fall in EBITDA was mainly a result of the delayed launch of 3G services in Algeria and continued market weakness in Italy. This was partly offset by service revenue growth in Bangladesh and Ukraine. The mobile customer base grew 2 percent year-on-year to 218.1 million at the end of March. Vimpelcom maintained its full-year outlook and the new CEO Jean-Yves Charlier said he will update the market on the group's strategy at the next quarterly report in August. 

Tags: fall dollar stronger revenues

 

Vimpelcom shareholder sets up telecom investment fund

2015-04-06 09:46:00| Telecompaper Headlines

(Telecompaper) Russian billionaire Mikhail Fridman is setting up a new investment fund for acquire telecoms and technology businesses in Europe and the US. London-based LetterOne Technology (L1Technology) is a type of private equity fund that will also hold Firdman's 48 percent stake in Vimpelcom and 13 percent in Turkcell. The new company's board will include Lastminute.com co-founder Brent Hoberman, Irish telecoms entrepreneur Denis O'Brien, Osama Bedier, a former Google payments executive, former Skype executive Russ Shaw and Sir Julian Horn-Smith, one of the founding management team at Vodafone. CEO Alexey Reznikovich told the Financial Times that he believed that the "old fashioned" telecoms industry needed a root-and-branch overhaul to make money for investors. He said the group had no debt on its balance sheet, which meant that leverage could be used to increase available funds to USD 25 billion. Reznikovich said the company was aiming to acquire businesses in areas ranging from traditional telecoms groups that needed help or new capital, to internet companies such as those making apps and streaming services that could be used by its global mobile operations. 

Tags: sets investment fund telecom

 

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