Edition:
India

VEON Ltd (VEON.OQ)

VEON.OQ on NASDAQ Stock Exchange Global Select Market

4.05USD
22 Nov 2017
Change (% chg)

$0.05 (+1.25%)
Prev Close
$4.00
Open
$4.06
Day's High
$4.06
Day's Low
$4.00
Volume
808,637
Avg. Vol
736,879
52-wk High
$4.50
52-wk Low
$3.21

Latest Key Developments (Source: Significant Developments)

Global Telecom says Pharos Holding to advise on share purchase offer by VEON
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - GLOBAL TELECOM HOLDING SAE ::BOARD APPROVES APPOINTMENT OF PHAROS HOLDING AS FINANCIAL ADVISOR TO EVALUATE MANDATORY TENDER OFFER BY VEON HOLDINGS TO ACQUIRE REMAINING SHARES OF COMPANY ‍​.  Full Article

Veon Q3 EBITDA increased 16.4 pct to 1,042 US dollars
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - VEON LTD ::VEON REPORTS SOLID THIRD QUARTER RESULTS WITH ROBUST FREE CASH FLOW GENERATION AND ANNOUNCES MANDATORY TENDER OFFER FOR GTH.Q3 ‍TOTAL REVENUE INCREASED 4.0% YEAR-ON-YEAR, AND 3.2% ORGANICALLY​.Q3 ‍EBITDA INCREASED 16.4% (USD 146 MILLION) TO USD 1,042 MILLION​.‍TARGETS FOR 2017 CONFIRMED​.  Full Article

Veon to sell Laos operations
Friday, 27 Oct 2017 

Oct 27 (Reuters) - Veon Ltd :Veon to sell Laos operations.Veon Ltd - ‍ Unit has entered into an agreement to sell its 78% stake in Vimpelcom Lao Co to government of Lao People's Democratic Republic​.Veon Ltd - ‍ Vimpelcom Holding Laos entered into agreement to sell its 78% stake in Vimpelcom Lao Co Ltd for gross proceeds of USD 22 million​.Veon Ltd - ‍ Following sale, government of Lao PDR will own 100 percent of share capital of Vimpelcom Laos​.  Full Article

Vimpelcom says FY16 guidance confirmed
Thursday, 4 Aug 2016 

Vimpelcom Ltd : Vimpelcom reports H1 2016 results in line with expectations; fy16 guidance confirmed . Q2 revenue $2.2 billion versus i/b/e/s view $2.18 billion . Remain confident of securing regulatory approval for ck hutchison agreements from european commission, expected by 8 september 2016 . Says fy16 guidance confirmed, albeit at lower end of range for service revenue and underlying ebitda margin .As of today, no statement of objections has been received from european commission on agreement with CK Hutchinson.  Full Article

Telenor still intends to sell Vimpelcom stake, no update on timeline -CEO
Tuesday, 19 Jul 2016 

Telenor CEO Sigve Brekke made the following statements when asked for an update on the company's intention to sell its stake in Vimpelcom : Says no change in our intention to sell Vimpelcom stake, still working to execute that intention . Declined to provide any update on timeline for exit Further company coverage: [TEL.OL] (Reporting By Gwladys Fouche, editing by Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Hutchison, Vimpelcom in exclusive talks with Iliad to sell Italy assets- Bloomberg
Monday, 4 Jul 2016 

:Hutchison, Vimpelcom enter exclusive negotiations with French carrier Iliad to sell wireless assets in Italy - Bloomberg, citing sources.  Full Article

Vimpelcom Q1 net income $189 million
Thursday, 12 May 2016 

Vimpelcom Ltd : Results on track and FY16 guidance confirmed . Q1 total mobile customers 194 million versus 195.1 million . Q1 revenue organic growth of 4% yoy, driven by strong growth in emerging markets and Eurasia . Will maintain strategy of investing in high-speed data networks to capture mobile data growth . "Macro-economic slowdown and weakened ruble continued to negatively impact revenue growth and profitability in Russia" . Qtrly net income attributable to Vimpelcom shareholders $189 million versus $184 million . Announced Tom Gutjahr as new CEO of Optimum Telecom Algeria, a company operating under the Djezzy brand name . Vimpelcom reports positive revenue momentum with 1Q 2016 results, FY16 guidance confirmed .Q1 revenue $2.0 billion versus I/B/E/S view $2.03 billion.  Full Article

Vimpelcom Ltd - EU antitrust regulators to block Hutchison's O2 deal - sources - Reuters News
Tuesday, 26 Apr 2016 

Vimpelcom Ltd:European Union antitrust regulators will veto CK Hutchison Holdings's 10.3-billion-pound ($14.9 billion) bid to become Britain's biggest mobile operator, two people familiar with the matter said on Monday. - RTRS.The European Commission will this week seek the green light from national competition agencies for its decision, the people said.Such a move is usually a formality. Hutchison, controlled by Asia's richest man Li Ka-shing, had faced an uphill battle getting EU clearance for its proposed buy of Telefonica's UK mobile unit O2.A package of concessions designed to boost smaller rivals failed to address Commission concerns that the deal may result in higher prices for consumers and less competition in Britain, the people said.  Full Article

Vimpelcom Ltd- EU regulators extend Hutchison, Vimpelcom deal probe by a week - Reuters News
Thursday, 21 Apr 2016 

Vimpelcom Ltd:European Union antitrust regulators have extended their investigation into a plan by CK Hutchison Holdings and Vimpelcom to merge their Italian mobile businesses after the companies asked for more time. - RTRS.The European Commission said it would now decide by Aug. 18 instead of Aug. 10 whether to clear the 21.8 billion euro ($24.6 billion) deal, which would create a stronger player to Telecom Italia and Vodafone.The deal faces stringent scrutiny because it would reduce the number of Italian mobile network operators to three from four.Hutchison is already facing an uphill battle to get EU approval for a similar four-to-three acquisition in the UK."The deadline was extended at the parties' request, as allowed for by the Merger Regulation," Commission spokesman Ricardo Cardoso said in an email.  Full Article

Vimpelcom Ltd - Lengthy EU investigation seen for Hutchison's Italian deal- source - Reuters
Tuesday, 23 Feb 2016 

Vimpelcom Ltd:CK Hutchison Holdings' plan to combine its Italian subsidiary with a Vimpelcom unit is expected to come under extensive EU scrutiny once a preliminary review ends, a person familiar with the matter said on Monday - RTRS.The companies however plan to offer concessions during this phase to allay the European Commission's concerns, the person said.The Commission, which is now examining the deal in a preliminary review, last week flagged its concerns about possible price hikes because the merger will reduce the number of mobile network operators in Italy from four to three.The EU competition authority's initial assessment is scheduled to end on March 11. A full-scale investigation could take up to five months. Commission spokesman Ricardo Cardoso declined to comment.While the proposed combination of Hutchison's 3 Italia SpA and Vimpelcom's WIND Telecommunicazioni will create a player broadly equal to Telecom Italia TLIT.MI and Vodafone VOD.L, it will also mean one fewer network operator in Italy and thus less competition.European Competition Commissioner Margrethe Vestager has adopted a tougher line regarding consolidation in the sector after previous four-to-three telecoms deals resulted in higher phone bills for consumers but not significantly higher investments by the companies.  Full Article

Fitch: GTH Buy-Out May Increase Leverage for VEON

(The following statement was released by the rating agency) MOSCOW/LONDON, November 13 (Fitch) Fitch Ratings says the proposed buy-out of Global Telecom Holding S.A.E (GTH) shares not owned by VEON Ltd. may significantly increase the latter's leverage above the downgrade threshold level. Deleveraging may be slow due to limited free cash flow growth resulting from progressive future dividend payments and likely spectrum investments in the near term, including in Bangladesh and Ukraine. The positi