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Vimpelcom hires former Verizon Wireless finance chief
2013-08-07 20:09:13| IT Services - Topix.net
Russia's third-largest mobile operator Vimpelcom has hired the former finance chief of the biggest U.S. mobile provider Verizon Wireless, as it strives to cut its $23 billion debt.
Tags: finance
chief
wireless
verizon
Vimpelcom to move stock listing to Nasdaq
2013-08-07 11:34:58| IT Services - Topix.net
The company also said it appointed Andrew Davies, chief financial officer of Verizon Wireless, a joint venture between U.S. group Verizon Communications companies present on Nasdaq ... and we think it is a natural step for Vimpelcom to be included into that very strong group of companies," CEO Jo Lunder said.
Tags: stock
listing
move
nasdaq
Vimpelcom to move stock listing to Nasdaq
2013-08-07 11:05:30| Telecom - Topix.net
The company also said it appointed Andrew Davies, chief financial officer of Verizon Wireless, a joint venture between U.S. group Verizon Communications companies present on Nasdaq ... and we think it is a natural step for Vimpelcom to be included into that very strong group of companies," CEO Jo Lunder said.
Tags: stock
listing
move
nasdaq
Vimpelcom to move stock listing to Nasdaq
2013-08-07 10:23:57| Automakers - Topix.net
Telecoms group Vimpelcom , with assets in Russia, Italy and several emerging markets, said on Wednesday it was switching its listing to Nasdaq after nearly two decades of trading on the NYSE Euronext .
Tags: stock
listing
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nasdaq
Vimpelcom results under pressure from regulation, forex
2013-08-07 09:10:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported second-quarter revenues stable and a small drop in EBITDA, as growth in its home market Russia was offset by a difficult Italian market and slowdown in Africa and Asia. Revenues were largely unchanged year-on-year at USD 5.72 billion, hurt by negative currency effects. EBITDA dropped 2 percent to USD 2.43 billion, and the margin fell to 42.4 percent from 43.2 a year ago. The company blamed the lower result on the termination rate cuts in Italy, tighter VoIP controls in Bangladesh and one-off charges of USD 43 million, relating to a settlement, restructuring charges, a fine in Pakistan and M&A costs. Underlying EBITDA growth, excluding these effects, would have been 3 percent. Net profit was still up 17 percent to USD 573 million, and operating cash flow improved 3 percent to USD 1.39 billion, after a 23 percent reduction in capex. Vimpelcom said capex will catch up in the second half on spending in Russia and possibly Algeria, to 20 percent of revenue from 17 percent in H1. The higher cash flow helped reduce net debt slightly, to 2.3 times EBITDA. The company said it was on track to meet its medium-term targets, despite headwinds from government and regulatory measures. It also confirmed it is renewing its options for the Canadian market and considering a sale of Wind Mobile, rather than increasing its stake in the operator.
Tags: results
pressure
regulation
forex
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