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Beeline fully owned by Russian top management now

Vimpelcom said it had acquired within the transaction framework over 96% of all Veon bonds in Russia

MOSCOW, October 9. /TASS/. Vimpelcom, the owner of the Beeline mobile communications brand, has been fully transferred to a group of Russian top managers headed by the company CEO Alexander Torbakhov, the Netherlands-based Veon holding said.

Veonhas thereby completed the withdrawal from Russia.

Vimpelcom said it had acquired within the transaction framework over 96% of all Veon bonds in Russia. The buyout was made on single and economically equal terms for each issue of bonds. Terms of the transaction do not provide for a buyback option.

"Therefore, Vimpelcom becomes a wholly Russian company, the mobile communications operator stressed.

Veon announced Beeline sale in November 2022. The top management of the mobile operator made an agreement on its buyout from the holding. The deal was announced to be complete by June 1, 2023 at the latest but with the option of extending the deadline.

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