Amsterdam (22 July 2016) - VimpelCom Ltd. (NASDAQ: VIP), the international communications and technology company that is committed to bringing the digital world to each and every customer, announced today that its subsidiary in Uzbekistan has been granted a 15-year extension to its operating license.
The decision by the Uzbekistan Regulatory authorities to extend the license follows an application submitted in May 2016 and takes into consideration the company's plans for further development of its telecommunications network.
Uzbekistan is a key market for VimpelCom, where it operates under the Beeline brand and provides 2G, 3G and 4G/LTE communications and digital services to 9.5 million customers. VimpelCom has invested more than USD 1 billion in Uzbekistan since 2006 and has paid more than USD 950 million in tax, making it one of the country's top taxpayers.
Dmitriy Shukov, CEO of Beeline Uzbekistan, said: We are extremely pleased to have our license extended in Uzbekistan and will continue to serve our customers in this important market by providing them with world-class products and services. We cover 88% of the Uzbekistan population with our 2G network, 52% with 3G, and are now preparing to significantly expand our 4G/LTE services. VimpelCom is committed to providing access to essential digital and telecommunications services across our diverse footprint where we aim to make a difference to the lives of the millions of customers we serve.
Beeline Uzbekistan was founded in 1996 and is the leading telecoms operator in the country. On 2 December 2008, it became the first company to announce the commercial launch of 3G in Uzbekistan. It was also the first operator to commercially launch 4G/LTE services, on 4 September 2014.
Disclaimer This release contains forward-looking statements , as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, to our Uzbekistan subsidiary and its plans to further develop its telecommunications network. The forward-looking statements included in this release are based on management's best assessment of the Company's strategic and financial position and of future market conditions, trends and other potential developments. Forward-looking statements involve risks and uncertainties. The actual outcome may differ materially from these statements as a result of: continued volatility in the economies in our markets; unforeseen developments from competition; governmental regulation of the telecommunications industries; general political uncertainties in our markets; and government investigations or other regulatory actions and/or litigation with third parties. Certain other factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company's Annual Report on Form 20-F for the year ended December 31, 2015 filed with the U.S. Securities and Exchange Commission (SEC) and other public filings made by the Company with the SEC. The forward-looking statements speak only as of the date hereof, and the Company disclaims any obligation to update them or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.
About VimpelCom VimpelCom (NASDAQ: VIP) is an international communications and technology company, headquartered in Amsterdam, and driven by a vision to unlock new opportunities for customers as they navigate the digital world. Present in some of the world's most dynamic markets, VimpelCom provides more than 200 million customers with voice, fixed broadband, data and digital services. VimpelCom's heritage as a pioneer in technology is the driving force behind a major transformation focused on bringing the digital world to each and every customer. VimpelCom offers services to customers in 14 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia, Laos, and Zimbabwe. VimpelCom operates under the Beeline , WIND , Djezzy , Mobilink , Kyivstar , banglalink and Telecel brands. Follow us on Twitter @VimpelCom, visit our blog @ blog.vimpelcom.com or website @http://www.vimpelcom.com.
Contact information Media and Public Relations VimpelCom Ltd.
Neil Moorhouse
Tel: +31 20 79 77 200 (Amsterdam)
pr@vimpelcom.com
Investor Relations VimpelCom Ltd.
Remco Vergeer
ir@vimpelcom.com
Tel: +31 20 79 77 200 (Amsterdam)
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Amsterdam (22 July 2016) - VimpelCom Ltd. (NASDAQ: VIP), the international communications and technology company that is committed to bringing the digital world to each and every customer, announced today that its subsidiary in Uzbekistan has been granted a 15-year extension to its operating license.
