Please install Adobe Flash Player.

Consulting services

  • Market entry strategy
  • Business plan development
  • Strategy audit
  • Competitive intelligence
  • Product evaluation
  • Due diligence
  • Distributor / agent search

Research services

  • Market studies analysis / sizing and trends
  • Customer service / satisfaction surveys
  • Competitive positioning intelligence
  • Brand tracking
  • Advertising effectiveness research
  • Pricing research


  • National operators
  • International operators
  • Telecom vendors
  • Incumbents
  • New entrants
  • Governments

Russia’s VimpelCom CEO Slobodin quits, Johnsen new CEO


MOSCOW, Sep 6 (Bloomberg) – VimpelCom Ltd.’s head of Russia has resigned after local authorities said he was wanted for questioning in connection with a corruption probe at his former employer. The stock fell the most in more than two months.

VimpelCom accepted Mikhail Slobodin’s resignation with immediate effect, the Amsterdam-based wireless carrier said in a statement Monday. Kjell Johnsen, head of major markets, will replace him as acting chief executive officer until a permanent replacement is found, VimpelCom said.

Slobodin’s contract was extended for three years last month. The departure of an executive that is credited with improving the operational and financial dynamics at VimpelCom’s largest unit is untimely for the carrier, according to Ivan Kim, an analyst at VTB Capital.

“The lack of management continuity had been an issue for VimpelCom before, and that might now resurface,” Kim said in a note.

Russia’s Investigative Committee said Monday it detained two managers who were executives of power utility T Plus’s predecessor, KES Holding, in connection with suspicious payments of over 800 million rubles ($12.3 million) and that it was seeking Slobodin, who used to head the company.

Slobodin told Bloomberg News on Monday that he was on a business trip outside of Russia.

The stock fell as much as 4.6 percent in New York, the steepest intraday decline since June 27, and was trading down 2.5 percent to $4.24 at 9:40 a.m., giving the carrier a market value of $7.4 billion.

Russia has become VimpelCom’s largest market after the carrier deconsolidated its Italian unit, merging it into a joint venture with CK Hutchison Holdings Ltd. It accounts for about half of VimpelCom’s sales, and good performance there is “crucial” for the company’s fundamentals, UralSib Capital said in a note.

VimpelCom’s business in the former Soviet Union has been dogged with corruption allegations and the carrier paid a $795 million fine to settle a bribery case in Uzbekistan this year. VimpelCom co-owner Telenor ASA suspended several executives over the Uzbek probe in 2015 and announced a strategic decision to sell its 33 percent stake in the carrier.

Latest News

30 May 2017

ChronoPay looks to kickstart bitcoin adoption in Russia

St.-Petersburg, May 30 ( & CCN) ChronoPay, one of Russia’s oldest online payments providers, is including bitcoin to its payment gateway, enabling all of its clients to accept the...
12 May 2017

Russia’s largest online retailer will accept Bitcoin despite Central Bank slapdown

St.-Petersburg, May 12 (Сryptocompare) Russian e-commerce giant Ulmart is planning to start accepting bitcoin as a method of payment from 1 September, 2017. The online retailer was considering accepting...
23 December 2016

MegaFon to buy stake for $740 million from Usmanov

MOSCOW, Dec 23 (Bloomberg) Alisher Usmanov and his partners are set to pocket $740 million from moving a stake in internet company Group Ltd. to MegaFon PJSC, as the Russian billionaire consolidates...
20 December 2016

Deloitte says 7% Russian cell clients change operators in H1

MOSCOW, Dec 20 (PRIME) -- About 7% of Russian mobile subscribers changed their operators in January–June as compared to 4–5% of users who switched to other operators within six months in several...
Joomla Templates and Joomla Extensions by JoomlaVision.Com