MOSCOW (Reuters) – Amsterdam-listed cell operator Veon on Thursday stated it would promote its Russian enterprise, Vimpelcom, to senior members of the administration crew, led by CEO Aleksander Torbakhov, for 130 billion roubles ($2.15 billion).
Veon operates its Beeline model by means of its subsidiary Vimpelcom in Russia, a market that accounts for about half of the group’s income.
Veon joins the rising record of Western corporations to get rid of belongings in Russia since Moscow despatched tens of hundreds of troops into Ukraine in late February.
The transaction is anticipated to finish by June 1 subsequent 12 months, Veon stated.
“I’m assured that the agreed sale of Veon’s Russian operations to the Vimpelcom administration crew represents an optimum resolution for Veon, its Russian operations and the stakeholders of each corporations, together with prospects, shareholders and collectors, in addition to workers each in and outdoors of Russia,” CEO Kaan Terzioglu stated in an announcement.
($1 = 60.3500 roubles)