Russian PJSC VimpelCom was founded in 1992 in Moscow when VimpelCom's co-founders, Russian Dmitry Zimin and American Augie K. Fabela II came together to pioneer a new direction in the Russian mobile industry - their company was one of the first mobile carriers in Russia. Augie Fabela, who was then a young entrepreneur from the United States, and Zimin, who was a Russian scientist in his fifties, together launched the Beeline brand in 1993. Its name derives from вымпел, the Russian word for pennon.
In 1996, PJSC VimpelCom, then the leader of Moscow cellular market, became the first Russian company to have its shares listed on the New York Stock Exchange. The company's main shareholders are Telenor, a Norwegian telecom conglomerate, and Alfa Group, a vehicle of Russian tycoon Mikhail Fridman, via LetterOne. They have been locked in a years-long struggle for control of this enterprise as well as other telecommunication assets in Eastern Europe. In 2008, PJSC VimpelCom obtained a 49.9% stake in Euroset, the largest mobile retailer in Russia and the CIS, which formerly belonged to its founder Yevgeny Chichvarkin.
United holding company and NASDAQ
VimpelCom Ltd. holding company was founded in 2009. In 2009, Telenor and Alfa agreed to merge their assets in VimpelCom and Kyivstar with the aim of creating VimpelCom Ltd.. In October 2010, the united company acquired from Naguib Sawiris two assets:
As of 31 December 2011, the company had 205 million customers across 20 countries. After several divestments and a business transformation, by summer 2017, VEON had a combined subscriber base of more than 200 million across 12 markets. The company announced that it would switch the listing of its ADS shares from the NYSE to the NASDAQ with trading beginning on 10 September 2013. In February 2015, the government of Algeria acquired a 51% stake in Djezzy for US$2.6 billion.
2015–present
In September 2014, VimpelCom agreed to sell its majority stake in Canadian mobile operatorWind Mobile for $272 million to its minority owner Globalive. In summer 2015, the United States Justice Department claimed that VimpelCom used a network of shell companies and phony consulting contracts to funnel bribes to a close relative of the president of Uzbekistan, in exchange for access to that country's telecommunications market. The board of one part-owner, Norwegian telecom operator Telenor, has severed consulting ties with its former chief executiveJon Fredrik Baksaas due to the continuing police investigation. In November 2015 the CEO, Jo Lunder was arrested on corruption charges in Oslo, Norway. The case alleges that in exchange for an operating license, VimpelCom has funneled $57.5M to Takilant, a company linked to Gulnara Karimova, the daughter of Uzbek President Islam Karimov. In February 2016, the Securities and Exchange Commission announced a global settlement along with the U.S. Department of Justice and Dutch regulators that requires telecommunications provider VimpelCom Ltd. to pay more than $795 million to resolve its violations of the Foreign Corrupt Practices Act to win business in Uzbekistan. In February 2017, VimpelCom renamed itself VEON, named after the messaging platform that it had developed. The company explained that the re-branding was part of a shift towards marketing themselves as a technology company, and not solely a telecommunications firm. In April 2017, VEON announced the listing and trading of shares of VEON on Euronext Amsterdam. In July 2017, VEON announced launching Personal Internet Platform named VEON in major markets: Italy, Ukraine, Bangladesh, Pakistan and Georgia. The platform provides contextualized, personalized internet experiences and opportunities, enabling customers to call, chat, read, watch, listen and share media, manage account. In March 2018, CEO Jean-Yves Charlier resigned and CEO duties were temporarily assumed by VEON's chair, Ursula Burns. Burns was appointed as CEO, while remaining as chairman, in December 2018. In October 2019, VEON hired former ex-Turkcell CEO Kaan Terzioğlu as COO of VEON Group, together with Sergi Herrero. In February 2020, Herrero and Terzioğlu were appointed co-CEOs, succeeding Burns. In June 2020, Gennady Gazin succeeded Burns as chairman.
Owners
Veon Shareholder Structure:
47.9% of common and voting shares owned by LetterOne
