The deal to sell Beeline became cash-strapped

The Dutch holding Veon and the top management of the Russian VimpelCom (operating under the Beeline brand), which plans to buy out the Russian telecom operator from the holding, have clarified the terms of the deal. If in November 2022 Veon reported that the deal would be paid for “mainly” by paying off Veon’s debt on Eurobonds, the parties have now clarified that the entire transaction amount of 130 billion rubles. will be covered by Eurobonds, it follows from the release.

The companies expect that all formalities necessary to close the transaction will be completed before the October 13 maturity date of the Veon bonds. This is stated in the Veon release. A VimpelCom representative declined to comment.