|VimpelCom Ltd. (2009–2017)|
|Predecessor||OJSC VimpelCom and Kyivstar|
Augie K. Fabela II
|Russia, Italy, Greece, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic|
|Jean-Yves Charlier (CEO)Alexey Reznikovich (Chairman of the Supervisory Board of OJSC VimpelCom)|
|Products||Mobile telephony, mobile phones retailing, international telephony, broadband Internet, IPTV, city-wide Wi-Fi, domain name registrar and others|
|Revenue||US$ 9.78 billion (2016) |
|Total assets||US$ 33.85 billion (2016)|
Number of employees
|Subsidiaries||OJSC VimpelCom, KB Impuls, Kyivstar, Wind Telecom|
VEON (formerly VimpelCom Ltd.) is a global provider of telecommunication services founded in 2009, incorporated in Bermuda and headquartered in Amsterdam. It is the sixth largest mobile network operator in the world by subscribers (as of April 2012) with 214 million customers (as per December 31, 2012) in 18 countries. Most of the company's revenue comes from Russia (39%) and Italy (31%).
VimpelCom Ltd. Shareholder Structure:
- 47.9% of voting rights (56.2% Economic rights) owned by Altimo (Alfa Group)
- 43.0% of voting rights (33.0% Economic rights) owned by Telenor
- 9.1% (10.8%) – Minority Shareholders
- OJSC VimpelCom (100%)
- OJSC «New telephone company»
- Golden Telecom and Golden Telecom Ukraine (Delaware, United States, acquired in 2007)
- Corbina Telecom (acquired in 2006)
- Cityline (ISP) (acquired in 2001)
- Global TeleSystems (GTS), formerly San Francisco Moscow Teleport (SFMT), founded in 1983 by VNIIPAS and an American team which included George Soros
- Kyivstar (100%)
- Wind Telecom S.p.A.
- Euroset (50%)
Russian OJSC VimpelCom was founded in 1992 in Moscow when VimpelCom's co-founders, Dmitry Zimin and American Augie K. Fabela II came together to pioneer the Russian mobile industry. Augie Fabela, who was then a young entrepreneur from the United States, and Zimin, who was a Russian scientist in his fifties, together launched the Beeline brand in 1993.
The company was one of the first mobile carriers in Russia. Its name derives from вымпел, the Russian word for pennon.
New York Stock Exchange
In 1996, OJSC VimpelCom, then the leader of Moscow cellular market (and automatically the largest mobile operator in Russia), became the first Russian company to have its shares listed on the New York Stock Exchange (with "VIP" as the ticker symbol).
The company's main shareholders are Telenor, a Norwegian telecom conglomerate, and Alfa Group, a vehicle of Russian tycoon Mikhail Fridman. They have been locked in a years-long struggle for control of this enterprise as well as other telecommunication assets in Eastern Europe.
United holding company
VimpelCom Ltd. holding company was founded in 2009. In 2009, Telenor and Alfa agreed to merge their assets in VimpelCom and Kyivstar (Ukraine's number one wireless operator) with the aim of creating VimpelCom Ltd. (incorporated in Bermuda).
- Orascom Telecom Holding SAE, the largest mobile phone company in North Africa;
- Wind Italy, the third largest mobile phone company in Italy.
The company has 205 million customers across 20 countries (as of 31 December 2011).
In the summer of 2015, the United States Justice Department claimed that VimpelCom used a network of shell companies and phony consulting contracts to funnel bribes to a close relative of the president of Uzbekistan, in exchange for access to that country’s telecommunications market. The board of one part-owner, Norwegian telecom operator Telenor, has severed consulting ties with former VimpelCom chief executive Jon Fredrik Baksaas due to the continuing police investigation.
In November 2015 the company CEO, Jo Lunder was arrested on corruption charges in Oslo, Norway. The case alleges that in exchange for an operating license, VimpelCom has funneled $57.5M to Takilant, a company linked to Gulnara Karimova, the daughter of Uzbek President Islam Karimov.
The Securities and Exchange Commission announced 18-02-2016 a global settlement along with the U.S. Department of Justice and Dutch regulators that requires telecommunications provider VimpelCom Ltd. to pay more than $795 million to resolve its violations of the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan.
On 27 February 2017, VimpelCom renamed itself Veon, named after the messaging platform that it had developed. The company explained that the re-branding was part of a shift towards marketing themselves as a technology company, and not solely a telecommunications firm.
|Wikimedia Commons has media related to VimpelCom Ltd..|
- Mobile phone industry in Russia
- Telecommunications in Ukraine
- Dmitry Zimin
- Mikhail Fridman
- Naguib Sawiris
- "VimpelCom". vimpelcom.com.
- "VimpelCom". Archived from the original on March 15, 2016. Retrieved May 17, 2016.
- "VimpelCom on the Forbes Global 2000 List". Forbes. Retrieved 2 June 2016.
- Pavliva, Halia (2012-04-12). "VimpelCom Rises as Orascom Rejects Fine, Files for Arbitration". Bloomberg. Retrieved 2012-05-02.
- Леонид Коник (2012-04-26). "Altimo может потратить $1,5 млрд на увеличение доли в Vimpelcom Ltd. | comnews" (in Russian). Comnews.ru. Retrieved 2012-05-02.
- "VimpelCom". vimpelcom.com.
- "Founders". About.beeline.ru. 1933-04-28. Retrieved 2013-09-22.
- "Founders". About.beeline.ru. Retrieved 2013-09-22.
- "Fact Sheet(s)". Vimpelcom.com. Retrieved 2012-05-02.
- "Altimo of Russia steps up campaign against Telenor of Norway". New York Times. 2008-03-25. Retrieved 2012-05-02.
- White, Gregory L. (2009-05-20). "Norway Seeks Caution in Telenor Battle – WSJ.com". Online.wsj.com. Retrieved 2012-05-02.
- Nicholson, Chris V. (2009-10-05). "Telenor and Alfa Reach Deal on VimpelCom – NYTimes.com". Dealbook.nytimes.com. Retrieved 2012-05-02.
- "VimpelCom closes Djezzy deal with Algerian government". Developing Telecom. Retrieved 6 March 2017.
- "Vimpelcom to sell Wind Mobile stake to Canadian minority owner" (Press release). Reuters. 15 September 2014.
- Telenor ends consultancy deal with former CEO due to Vimpelcom probe
- "Former VimpelCom CEO seized at Oslo airport". The Local. 5 November 2015.
- Press Release: "VimpelCom to Pay $795 Million in Global Settlement for FCPA Violations", U.S. Securities and Exchange Commission. Retrieved 21 July 2016.
- Elco Van Groningen, "Takilant Found Guilty of Taking Bribes From Telia, VimpelCom", Bloomberg (July 20, 2016). Retrieved 21 July 2016.
- "Google and Facebook face an unlikely competitor in emerging markets: a telecom giant". Quartz. Retrieved 6 March 2017.