3 Aug 2023 17:56

VEON CEO leaves board of Vimpelcom

MOSCOW. Aug 3 (Interfax) - The head of the telecommunications holding VEON , Kaan Terzioglu, announced his resignation from the board of directors of Vimpelcom during a conference call on the company's Q2 results.

"I left the board of directors of Vimpelcom on August 1," he said during the call.

As for the closing of the transaction for the sale of the asset in Russia, he said that the holding continues to apply to European regulators to cancel the Eurobonds purchased by Vimpelcom.

"We have an obligation, both the buyer and the seller, to close the deal as soon as possible," he added.

Terzioglu also said the holding is aware of the importance of completing the transaction before October 2023, the next maturity date for its Eurobonds, but gave no details as to whether it will be possible to do so by then.

The deal to sell VimpelCom, announced at the end of 2022, is not yet complete. As of July 24, VEON has already received permission from regulators in Russia, UK, and Bermuda as well as a license from OFAC, a division of the US Treasury.