VEON Ltd (Bermuda) declined to comment on the takeover of SDN-Video LLC
Posted: Thu Jan 23, 2025 6:42 am
Freedom Finance Global analyst Vladimir Chernov, in addition to the deal amount, voiced a forecast for CDNvideo's revenue for 2023: "We believe that the deal value could have been $9.896 million (or RUB 954 million at the exchange rate on August 30, 2023), or this figure is in the range of $9-10.5 million (RUB 867.6 million - RUB 1.01 billion). By the end of 2023, CDNvideo's revenue could grow above RUB 1 billion, possibly to RUB 1.5 billion, and net profit - to approximately estonia whatsapp resource RUB 50-100 million."
, calling it a VimpelCom deal. Meanwhile, VEON Ltd fully controls PJSC VimpelCom, although on November 24, 2022, it agreed to sell 100% of the shares of the Russian subsidiary to its management headed by CEO Alexander Torbakhov for 130 billion rubles. At the time of the agreement, this was equivalent to $ 1.9 billion, in Form 6-K for August 2023, VEON indicated that in dollars the transaction amount had shrunk to $ 1.494 billion, and based on the ruble to dollar exchange rate of the Central Bank of the Russian Federation on September 1, 2023, the equivalent had decreased to $ 1.349 billion. Currently, VEON classifies VimpelCom as an "asset for sale / termination of operations".
As VEON indicated in its latest Form 6-K filed with the US Securities and Exchange Commission (SEC), on February 7, 2023, a subcommittee of the Russian Foreign Investment Review Committee approved the proposed sale of VimpelCom to its management, and on April 15, 2023, the US Office of Foreign Assets Control (OFAC) issued a license authorizing US persons to carry out all actions related to the sale of the Russian asset. VEON reported that it has the permits required by the UK and Bermuda authorities to proceed with the alienation of PJSC VimpelCom, and also noted: "VEON believes that an EU license is not required to complete the sale." At the same time, on May 30, 2023, VEON announced that it had submitted all necessary documentation to Euroclear, Clearstream and registrars to cancel the VEON Ltd Eurobonds, which are owned by VimpelCom. "The company is therefore entering the final stages of closing the sale of its Russian operations," VEON concluded in its August 2023 Form 6-K.
, calling it a VimpelCom deal. Meanwhile, VEON Ltd fully controls PJSC VimpelCom, although on November 24, 2022, it agreed to sell 100% of the shares of the Russian subsidiary to its management headed by CEO Alexander Torbakhov for 130 billion rubles. At the time of the agreement, this was equivalent to $ 1.9 billion, in Form 6-K for August 2023, VEON indicated that in dollars the transaction amount had shrunk to $ 1.494 billion, and based on the ruble to dollar exchange rate of the Central Bank of the Russian Federation on September 1, 2023, the equivalent had decreased to $ 1.349 billion. Currently, VEON classifies VimpelCom as an "asset for sale / termination of operations".
As VEON indicated in its latest Form 6-K filed with the US Securities and Exchange Commission (SEC), on February 7, 2023, a subcommittee of the Russian Foreign Investment Review Committee approved the proposed sale of VimpelCom to its management, and on April 15, 2023, the US Office of Foreign Assets Control (OFAC) issued a license authorizing US persons to carry out all actions related to the sale of the Russian asset. VEON reported that it has the permits required by the UK and Bermuda authorities to proceed with the alienation of PJSC VimpelCom, and also noted: "VEON believes that an EU license is not required to complete the sale." At the same time, on May 30, 2023, VEON announced that it had submitted all necessary documentation to Euroclear, Clearstream and registrars to cancel the VEON Ltd Eurobonds, which are owned by VimpelCom. "The company is therefore entering the final stages of closing the sale of its Russian operations," VEON concluded in its August 2023 Form 6-K.