Veon CEO resigns as VimpelCom CEO – Kommersant
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During a conference call following the results of Veon’s results in the second quarter of 2023, the company’s CEO Kaan Terzioglu announced that he had submitted his resignation from the post of chairman of the board of Vimpelcom (Beeline brand). He noted that the holding continues to appeal to European regulators to cancel Eurobonds owned by Vimpelcom.
“We have a full commitment on both sides, buyer and seller, to close the deal as soon as possible. I personally resigned from the post of Chairman of the Board of PJSC Vimpelcom on August 1, ”said Kaan Terzioglu (quoted from “Interfax”).
According to data on the company’s website, Veon’s revenue in the second quarter of 2023 amounted to $916 million (4.3% less than in 2022). At the same time, Vimpelcom’s revenue amounted to 73.8 billion rubles, having increased by 6.9%. The company’s financial results do not take into account Vimpelcom’s performance, as the asset is put up for sale.
In early November 2022, Veon announced a tender for the sale of VimpelCom. At the end of the month, the leadership of the Russian company signed an agreement on its purchase by Beeline’s volume management, headed by CEO Alexander Torbakhov. The amount of the transaction was to be 130 billion rubles. (about $2.1 billion). How explained “Kommersant” interlocutor, familiar with the details of the negotiations, part of the funds was intended to pay off the debt of Veon Holdings BV on Eurobonds, and part – to the holding itself. At the moment, the deal has not yet been completed. Now Veon has approvals from regulators in Russia, the UK, Bermuda and the US.
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