Vimpelcom
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Veon has appointed a new CFO, to replace Serkan Okandan, who is leaving at the end of April after three years. -
Veon is likely to complete sale of its Russian division to the management by 1 June, the company said this morning.
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The CEO of Veon has issued a stark warning to lenders that it needs more time to pay back its notes, some of which are due in February and others in April.
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Veon is to sell its operations in Russia to the management for the equivalent of US$2.1 billion, more than twice the current market cap of the whole group.
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Veon is looking for a Russian buyer of its VimpelCom business, and is making sure that it is one that is not subject to Western sanctions, says the CEO.
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Veon is packing up and moving out of Russia, where it owns the VimpelCom network that operates under the Beeline brand.
Forthcoming events
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Veon’s two biggest markets are at war, and Russia has made it illegal to say so, so group CEO Kaan Terzioğlu treads carefully in his interview with Alan Burkitt-Gray
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An American and a Russian will be competing against each other next month for the role of the next secretary-general of the International Telecommunication Union (ITU), the UN agency that is almost, but not quite, a global regulator.
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Veon has awarded its CEO and CFO shares worth a total of US$438,000 as part of its incentive programme.
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Four Russian operators, including the local subsidiary of Amsterdam-based Veon, have formed a company to develop 5G technology in competition with western and Asian suppliers.
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Veon has more cash reserves than when Russia invaded Ukraine, the company has announced.
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Veon’s public relations agency has complained about Capacity’s report about a filing the company made to shareholders and the US financial regulator about the threats to its viability.
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Telecoms operator Veon has moved loans from sanctioned banks worth more than US$1.12 billion from its head office in Amsterdam to its Russian branch, out of reach of Western authorities.
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Veon is moving its group parent company from Bermuda to London, saying it wants to be in “a jurisdiction with high standards of corporate governance”.
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The Azerbaijan investor that owns Bakcell and is building the Digital Silk Way as a backbone through the Caucasus has appointed Vasyl Latsanych as its head of telecoms.
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Shareholders in mobile phone operator Veon are expected to take a decision this week that will be a major step forward in creating an independent home for the group’s services division.
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Interconnect and roaming specialist Syniverse has appointed Andrew Davies, a former Sprint, Vodafone and Verizon executive, as CEO.
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Ursula Burns is to step down as chairman of Veon at the company’s annual meeting of shareholders on 1 June.
