Mon. Nov 28th, 2022

This content material was produced in Russia, the place the legislation restricts protection of Russian navy operations in Ukraine

MOSCOW, Nov 24 (Reuters) – Amsterdam-listed cellular operator Veon (VON.AS) on Thursday stated it is going to promote its Russian enterprise, Vimpelcom, to senior members of the administration staff, led by CEO Aleksander Torbakhov, for 130 billion roubles ($2.15 billion).

Veon operates its Beeline model via its subsidiary Vimpelcom in Russia, a market that accounts for about half of the group’s income.

Veon joins the rising checklist of Western firms to eliminate belongings in Russia since Moscow despatched tens of 1000’s of troops into Ukraine in late February.

The transaction is anticipated to finish by June 1 subsequent yr, Veon stated.

“I’m assured that the agreed sale of Veon’s Russian operations to the Vimpelcom administration staff represents an optimum answer for Veon, its Russian operations and the stakeholders of each firms, together with clients, shareholders and collectors, in addition to workers each in and outdoors of Russia,” CEO Kaan Terzioglu stated in an announcement.

($1 = 60.3500 roubles)

Reporting by Reuters
Writing by Alexander Marrow
Enhancing by Man Faulconbridge and David Goodman

Our Requirements: The Thomson Reuters Belief Ideas.

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