VimpelCom announced a change of name to VEON

Photo: RBC

VimpelCom Ltd. announced that it will change its name to VEON. Under this brand the company is developing an Internet platform in Italy and promised to launch it in all countries of presence, including in Russia in 2017

Holding Vimpelcom Ltd plans to change the name to VEON. According to the report, the company this decision due to the launch of a new Internet platform.

The company experienced a major restructuring and return to growth after several years of decline, says the company. “Today, the company is not what it was 24 months ago. And it was at this point she will be transferred from the Telecom business to a technology company VEON”, — it is told in message VimpelCom.

In the second quarter of 2017 VEON plans to offer its shares on the Amsterdam stock exchange Euronext (Amsterdam is home to the headquarters of the holding company). Financial Advisor for this transaction is ING. Now free float VimpelCom is 20.1%. Still, the company’s shares traded only on NASDAQ. Current capitaliza VimpelCom is $7,55 billion.

For the first time about the brand VEON VimpelCom began in the middle of autumn. Then under this name the company started the application for communication in Italy. Similar to the popular WhatsApp and Viber, via VEON you can call, send messages and video. The main difference VEON is not charged in the batch subscriber’s rate, while the use of other messengers gets paid after the subscriber has used up the prescribed rate limit Internet traffic. It was assumed that by the end of 2017 application will be available to subscribers of VimpelCom in all countries where we operate.

Now VimpelCom VEON calls “a revolutionary online platform” that brings together data Analytics and artificial intelligence technology. VEON plans to develop partnerships with different companies in developing popular brands in the field of transport, music industry, financial services and retail. Monday, February 27, VimpelCom intends to announce a partnership with video service STUDIO+, music — Deezer, as well as financial platform of Mastercard.

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