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VimpelCom settles Uzbek case with US, Netherlands

2016-02-19 09:03:00| Telecompaper Headlines

(Telecompaper) Russian mobile operator VimpelCom has announced settlements with the US Securities and Exchange Commission (SEC), the US Department of Justice (DOJ), and the Dutch Public Prosecution Service (Openbaar Ministerie, or OM) around allegations it paid bribes in Uzbekistan to win business.

Tags: case netherlands settles uzbek

Vimpelcom to pay $795m Uzbekistan settlement, regrets wrongdoing

2016-02-19 01:00:00| Total Telecom industry news

Telco agrees to oversight by an independent compliance monitor; Unitel business pleads guilty wih DOJ.

Tags: pay settlement uzbekistan regrets

Vimpelcom targets margin turnaround in 2016

2016-02-17 08:36:00| Telecompaper Headlines

(Telecompaper) Vimpelcom reported 2015 results in line with its outlook and forecast a slightly better performance in 2016. The company's revenue was down 1 percent and service revenue flat on an organic basis, and the EBITDA margin fell 0.8 percent points to 40.8 percent in 2015. In 2016, Vimpelcom also expects service revenue flat to a low single-digit organic increase, while the underlying EBITDA margin should be flat to 1 percentage point higher. Vimpelcom expects to benefit this year from cost savings from its planned mergers in Italy and Pakistan as well as increased infrastructure sharing in countries such as Russia. In the fourth quarter, the company said it saw improvement in some markets. While reported revenue was still down 23 percent year-on-year to USD 2.30 billion due to negative currency effects, organic revenue growth was 1 percent. Adjusted EBITDA fell 22 percent to USD 898 million, but was up 5 percent on an organic basis, and the margin rose to 39.0 percent from 38.4 a year ago.

Tags: targets margin turnaround vimpelcom

Vimpelcom admits to corruption in Uzbekistan, will pay fines

2016-02-17 01:00:00| Total Telecom industry news

Russian-owned telco reaches settlements with U.S., Dutch authorities that acknowledge violations of corruption practices; Telenor 'takes it very seriously'.

Tags: pay fines uzbekistan corruption