VimpelCom’s Uzbekistan license extended to 2031
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.
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services, with the ambition to lead the personal internet revolution for over 235 million customers it currently serves, and many others in the years to come.
VEON considers portions of this press release to contain "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 can be identified by the use of words such as "may", "will", "plan", "should", "expect", "anticipate", "estimate", "continue" or comparable terminology and include statements relating to, among other things, the development of VEON’s compliance function. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. Although VEON believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements as a result of risks and uncertainties. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain, or may contain, "inside information" as defined under the Market Abuse Regulation (EU) No. 596/2014.