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Tag: vimpelcom
Telenor worried as Vimpelcom makes $900m Uzbekistan provision
2015-11-03 01:00:00| Total Telecom industry news
Russian company says it cannot be certain of outcome or final cost of ongoing corruption probe.
Tags: makes
provision
uzbekistan
worried
Vimpelcom debacle costs Telenor chairman his job
2015-10-30 01:00:00| Total Telecom industry news
Svein Aaser steps down as Norway's industry minister receives new information on Uzbekistan corruption probe.
Tags: job
costs
chairman
debacle
Telenor posts Q3 net loss on Vimpelcom writedown
2015-10-28 08:57:00| Telecompaper Headlines
(Telecompaper) Telenor reported a loss of NOK 1.77 billion for the third quarter, hurt by a writedown on its stake in Vimpelcom which is up for sale. In the year-earlier period, the company had a profit of NOK 2.59 billion. Revenues increased to NOK 31.84 billion in Q3 from NOK 27.69 billion a year ago and were up 4.5 percent on an organic basis. Adjusted EBITDA rose to NOK 11.85 billion from NOK 10.26 billion, with the margin little changed at 37.2 percent. Telenor said it showed strong results in the Norwegian mobile market, continued expansion in Myanmar and promising growth trends in Pakistan, Bangladesh, Sweden and Hungary. However, it faced intense competition impacting performance in Thailand, Malaysia and Denmark. In Denmark, the group is still reviewing its strategic options after the proposed merger with Telia was blocked by regulators. The inclusion of the Danish operations led to a change in Telenor's outlook for the full year. It now expects an EBITDA margin of 34-35 percent for 2015, at the low end of its earlier guidance of 34-36 percent. Organic sales growth is expected at around 5 percent over the full year, after 5.7 percent in the first nine months of the year.
Telenor to sell VimpelCom stake; Q3 impairment NOK 7.5 bln
2015-10-05 11:45:00| Telecompaper Headlines
(Telecompaper) Telenor Group said it is to divest its entire 33 percent stake in VimpelCom and fully focus on creating value in its core operations. Svein Aaser, chairman of Telenor's board of directors said its minority stake and lack of ability to fully control Vimpelcom had been challenging. As a result of today's announcement, Telenor will not convert its VimpelCom preference shares into common shares.
Tags: sell
nok
stake
impairment
UPDATE 2-Norway's Telenor puts $2.3 bln Vimpelcom stake up for sale
2015-10-05 10:48:17| IT Services - Topix.net
Norwegian telecoms firm Telenor wants to sell its 33-percent stake in Vimpelcom , currently valued at $2.3 billion, the latest move by a Nordic telecoms firm to sever ties with a business facing a bribery investigation. Last month Swedish telecoms company TeliaSonera said it would leave seven nations in Asia and eastern Europe after years of probes into alleged corruption linked to local partners and problems accessing cash.
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