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PJSC VimpelCom

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For the holding company founded in 2009 and known as VimpelCom until 2017, see VEON.
PJSC VimpelCom
(ПАО «ВымпелКом»)
Company typePublic joint-stock company
IndustryMobile, telecommunications
PredecessorKB Impuls
FoundedMoscow, Russia (September 15, 1992 (1992-09-15))
FounderDmitry Zimin & Augie K. Fabela II
Headquarters
Moscow
,
Russia
Number of locations
all Russian regions
Area served
Russia
Key people
Aleksander Torbakhov (CEO)
ProductsMobile networks, Internet, IPTV
RevenueIncrease 4.65 billion USD (2018)[1]
Increase 2.21 billion USD (2007)[2]
Increase 1.46 billion USD (2007)[2]
Number of employees
28,500[3]
DivisionsGolden Telecom
Websiteabout.beeline.ru

PJSC VimpelCom (Russian: ПАО «ВымпелКом» or full name Russian: ПАО «Вымпел-Коммуникации», PAO «Vympel-Kommunikatsii») is a Russian telecommunications company started in 1992 when its co-founders, Dr. Dmitry Zimin[4] and Augie K. Fabela II[5] came together to pioneer the Russian mobile industry. Augie Fabela, who was then a young entrepreneur from the US, and Dr. Zimin who was a Russian scientist in his 50s, together launched the Beeline brand.

PJSC VimpelCom is the third-largest wireless[6] and second-largest telecom[7][8] operator in Russia. VimpelCom's main competitors in Russia are Mobile TeleSystems and MegaFon.[9]

PJSC VimpelCom's headquarters is located in Moscow.[10] In 1996-2010, traded as NYSE: VIP. It was wholly owned by VEON, although in the process of being sold after VEON announced the sale of their Russian operations in November 2022. In 2022, the company's revenue amounted to 280 billion rubles.[11] VEON completed the sale of PJSC Vimplecom in October 2023, with Aleksander Torbakhov serving as PJSC Vimplecom CEO.[12]

History

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Dmitry Zimin, the founder and honorary president
Old logo of PJSC VimpelCom

The company was founded in 1992 in Moscow, Russia and initially operated AMPS/D-AMPS network in Moscow and Moscow Oblast.

The brand "Beeline" was created in 1993.

PJSC VimpelCom also acquired companies such as Russia-On-Line in 1999, Cityline and EDN Sovintel in 2001, and Corbina Telecom in 2006. It had also acquired Global TeleSystems (GTS), SovAm Teleport, GlasNet, SLTMobitel, E-Mobile,[citation needed] and Orascom Telecom Holding S.A.E..[13]

In 1996[14] OJSC VimpelCom became the first Russian company listed on the New York Stock Exchange (NYSE: VIP).[15]

In 1997 the company began GSM network roll-out and in 2001 it started GSM networks throughout Russia's regions.

On February 29, 2008 OJSC VimpelCom completed a merger with Golden Telecom. In October 2008 OJSC VimpelCom acquired a 49.9% stake in Euroset, the largest mobile retailer in Russia and the CIS.[16]

In 2010 the ticker “VIP” was transferred to VimpelCom Ltd. holding. In February 2017, VimpelCom renamed itself VEON, after the messaging platform that it had developed.[17]

On April 14, 2005, the company decreased its net income in 2002 and 2003 as a result of this restatement: 2002 - $2.8 million or 2.2%, 2003 - $5.2 million or 2.2%.[18]

On November 24, 2022, VEON announced that it had entered into an agreement to sell its Russian subsidiary PJSC VimpelCom to the subsidiary's local management team.[19] PJSC VimpelCom was valued at approximately $6.1 billion under the agreement.

Owners and management

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CEO - Torbakhov Alexander Yurievich.[20]

President - Pankov Alexander Alexandrovich.[20]

References

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  1. ^ Financial overview (PDF).
  2. ^ a b VimpelCom 2007 Form 20-F (PDF). pp. 3–4. Retrieved 2008-07-03.
  3. ^ "Всё главное о компании" (PDF). beeline.ru. Retrieved 2018-06-25.
  4. ^ "Founders". Archived from the original on 2013-09-27. Retrieved 2013-02-15.
  5. ^ "Founders". Archived from the original on 2013-09-27. Retrieved 2013-02-15.
  6. ^ Фото: Дмитрий Лекай / Коммерсантъ (2010-05-25). "Ъ-Газета - "МегаФон" больше не третий". Kommersant.ru. Retrieved 2013-09-22.
  7. ^ "Интернет-издание о высоких технологиях". Cnews.ru. Retrieved 2013-09-22.
  8. ^ Фото: Николай Цыганов / Коммерсантъ (2012-03-13). "Ъ-Online - "Большая тройка" отчиталась". Kommersant.ru. Retrieved 2013-09-22.
  9. ^ "Svyazinvest Puts Cell Assets Up for Sale". Kommersant. 2007-06-25. Archived from the original on 2011-06-06. Retrieved 2008-07-03.
  10. ^ "VimpelCom - Contacts". Archived from the original on 2008-07-02. Retrieved 2008-07-03.
  11. ^ "ПАО "Вымпелком"". www.rusprofile.ru (in Russian). Retrieved 2023-11-30.
  12. ^ https://www.reuters.com/markets/deals/veon-completes-russia-exit-vimpelcom-sale-closes-2023-10-09/
  13. ^ "Fact Sheet(s)". Vimpelcom.com. Archived from the original on 2013-02-07. Retrieved 2012-05-02.
  14. ^ "NYSE Euronext Timeline". Archived from the original on 2015-05-08.
  15. ^ Kramer, Andrew E. "Vimpelcom". New York Times.
  16. ^ "About company". About.beeline.ru. Archived from the original on 2013-04-16. Retrieved 2013-09-22.
  17. ^ "Google and Facebook face an unlikely competitor in emerging markets: a telecom giant". Quartz. Retrieved 6 March 2017.
  18. ^ "VimpelCom Announces Fourth Quarter and Annual 2004 Financial and Operating Results;- 61% Year-on-Year Increase in Total Operating Revenues -".
  19. ^ Dan Swinhoe (2022-11-24). "Veon sells Russia's VimpelCom to local management for $2.1bn". DatacenterDynamics. Retrieved 2023-08-06.
  20. ^ a b "ПАО «ВЫМПЕЛКОМ» — г. Москва — ОГРН 1027700166636, ИНН 7713076301 — адрес, контакты, гендиректор". РБК Компании (in Russian). Retrieved 2024-06-19.
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