The Russian Government Commission on Foreign Investments has agreed on the sale of VimpelCom to Russian top management on the condition of repurchasing at least 90% of the bonds issued by the Veon holding in favour of Russian investors.
According to Kommersant, the news was announced by Maksut Shadayev, the head of the Russian Ministry of Digital Development. Shadayev added that the repurchase can take place in one to two months.
As previously reported by Broadband TV News, last November Veon has agreed to sell its Russian operations (VimpelCom) to certain senior members of VimpelCom’s management team, led by its current CEO Aleksander Torbakhov..