MOSCOW (Reuters) – Amsterdam-listed cellular operator Veon on Thursday stated it’ll 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 listing of Western firms 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 answer for Veon, its Russian operations and the stakeholders of each firms, together with prospects, shareholders and collectors, in addition to staff each in and out of doors of Russia,” CEO Kaan Terzioglu stated in a press release.
($1 = 60.3500 roubles)