Veon has obtained a licence from the US Office of Foreign Assets Control (OFAC) to sell its Russian subsidiary Vimpelcom.
In its latest results, the company says OFAC issued the licence on April 15 “authorising US persons to engage in all transactions ordinarily incident and necessary to the divestment of VimpelCom.
It adds that “addition to this OFAC licence, Veon has also determined that it has the requisite authorisations required by the UK and Bermudan authorities to proceed with the divestment of VimpelCom. Veon does not believe that a licence is required from the EU to execute the sale”.
As previously reported by Broadband TV News>, last November Veon has agreed to sell its Russian operations to certain senior members of VimpelCom’s management team.
The sale was subsequently approved by the Russian government.