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Tag: vimpelcom
Barclays Downgrades Russia Telecoms, Likes Turkey, VimpelCom Sinks 4%
2014-12-11 00:18:29| Telecom - Topix.net
Three that trade in the U.S. are lower headed into the close: VimpelCom is down nearly 4%, Mobile TeleSystems is down 0.5% and Millicom International Cellular is down 0.9%. Barclays downgraded VimpelCom, Mobile Telesystems and Megafon from Equal Weight to Underweight.
Tags: russia
turkey
likes
telecoms
Telenor's Baksaas backs off from Vimpelcom amid corruption probe
2014-12-09 01:00:00| Total Telecom industry news
Norwegian telco's CEO steps down from Russian firm's board; says Telenor will assist with Uzbekistan investigation.
Tags: probe
corruption
backs
amid
Telenor CEO resigns from Vimpelcom board
2014-12-08 17:08:00| Telecompaper Headlines
(Telecompaper) Telenor CEO Jon Fredrik Baksaas has resigned from the supervisory board of VimpelCom with immediate effect in order to avoid any conflict of interest in the ongoing investigation into corruption allegations over Vimpelcom's entry on the Uzbekistan market. Telenor holds 33 percent of Vimpelcom's shares and 43 percent of the voting rights. As allowed under Vimpelcom's statues, Baksaas seconded his vote to Kjell Morten Johnsen, another Telenor representative on the board. Baksaas will focus on defending Telenor's interests in VimpelCom, and the Telenor board has appointed a special committee of board members to follow the developments at Vimpelcom. "Telenor has zero tolerance for corruption," Baksaas said in a statement. "As an owner in VimpelCom we will assist the ongoing investigations." Vimpelcom confirmed it March it was under investigation in the US and the Netherlands over its activities in Uzbekistan. The company said it was cooperating fully with the investigations.
Tags: board
ceo
resigns
telenor
Vimpelcom signs global partnership agreement with Twitter
2014-11-19 08:53:00| Telecompaper Headlines
(Telecompaper) Russian mobile operator Vimpelcom will launch an extended portfolio of Twitter services after signing a partnership agreement with the messaging services provider. VimpelCom said it wil launch services for all of its 223 million customers in emerging and developed mobile markets, and additional Twitter programmes tailored to local markets where it operates. VimpelCom operations will be able to use the Twitter mobile portfolio of services aimed at emerging markets, including Twitter SMS and Twitter USSD designed to on-board first-time m-data users and Twitter Access. Customers will pay no extra costs. The partnership will also see tailored programmes allowing VimpelCom operations to have their own Twitter timelines and engage directly with local customers even without a Twitter account. They will also use customised Twitter support for local and international social, sports or cultural events. Mobilink Pakistan is the first VimpelCom operating company to launch Twitter mobile services under the new partnership. VimpelCom will expand the service to its other operations.
Tags: global
agreement
partnership
signs
Vimpelcom sales down 9% in Q3, net profit halves
2014-11-12 09:09:00| Telecompaper Headlines
(Telecompaper) Vimpelcom's net profit more than halved in the third quarter, to USD 104 million from USD 255 million a year ago, due to costs for refinancing its Italian subsidiary Wind and negative currency effects. EBITDA declined 11 percent to USD 2.21 billion, and revenues fell 9 percent to USD 5.15 billion. On an organic basis, revenues fell 3 percent in Russia, 6 percent in Ukraine, 2 percent in Italy and 4 percent in its Asia and Africa division. Only the CIS division showed growth of 5 percent. Vimpelcom said the operating results were affected by macroeconomic weakness, currency fluctuations and operational problems in some markets. Its transformation programs in Russia, Ukraine and Pakistan are on track and those in Bangladesh and Kazakhstan are already delivering results. While Italy remains a weak market, the company said it sees an improving trend at Wind. Following the Wind refinancing and the expected closing of the sale of the Algerian operations by year-end, the group expects to reduce annual interest charges by USD 0.7 billion. The operator's capex was up 4 percent year-on-year to USD 964 million in Q3 excluding licence payments, while operating cash flow fell 4 percent to USD 1.61 billion. Net debt fell 6 percent compared to Q2 to USD 21.74 billion, or 2.5 times annual EBITDA.
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