News - Veon holding sells Beeline and completes exit from Russia

VEON holding has completed its exit from the Russian business, selling VimpelCom (manages the Beeline brand). The business was sold to local top management headed by General Director Alexander Torbakhov. As RT reports, with reference to a press release by the company, the deal does not provide for any buyback agreements. Previously, the government commission on foreign investment approved the sale of VimpelCom to Russian management with the condition of repurchasing at least 90% of the bonds issued by its parent company in favor of investors from Russia.