PJSC VimpelCom

PJSC VimpelCom
(ПАО «ВымпелКом»)
Public joint-stock company
Industry Mobile, telecommunications
Predecessor KB Impuls
Founded Moscow, Russia (September 15, 1992 (1992-09-15))
Founder Dmitry Zimin & Augie K. Fabela II
Headquarters Moscow, Russia
Number of locations
 all Russian regions
Area served
 Russia & former USSR
Key people
 Mikhail Slobodin, CEO (2013)
Products Mobile networks, Internet, IPTV
Revenue Increase 9.6 billion USD (2015)[1]
Increase 2.21 billion USD (2007)[2]
Increase 1.46 billion USD (2007)[2]
Number of employees
 38,000[3]
Parent Veon
Divisions Golden Telecom
Website about.beeline.ru/en/

PJSC VimpelCom (Russian: ПАО «ВымпелКом» or full name Russian: ПАО «Вымпел-Коммуникации», PAO «Vympel-Kommunikatsii») is a Russian telecommunications company started in 1992 when its co-founders, Dr. Dmitry Zimin[4] and Augie K. Fabela II[5] came together to pioneer the Russian mobile industry. Augie Fabela, who was then a young entrepreneur from the US, and Dr. Zimin who was a Russian scientist in his 50’s, together launched the Beeline brand.

PJSC VimpelCom is the third-largest wireless[6] and second-largest telecom[7][8] operator in Russia. VimpelCom's main competitors in Russia are Mobile TeleSystems and MegaFon.[9]

PJSC VimpelCom's headquarters is located in Moscow.[10] In 1996-2010, traded as NYSE: VIP. It is wholly owned by Veon.

History

Dmitry Zimin, the founder and honorary president
Old logo of PJSC VimpelCom

The company was founded in 1992 in Moscow, Russia and initially operated AMPS/D-AMPS network in Moscow and Moscow Oblast.

The brand "Beeline" was created in 1993.

In 1996[11] OJSC VimpelCom became the first Russian company listed on the New York Stock Exchange (NYSE: VIP).[12]

In 1997 the company began GSM network roll-out and in 2001 it started GSM networks throughout Russia's regions.

On February 29, 2008 OJSC VimpelCom completed a merger with Golden Telecom. In October 2008 OJSC VimpelCom acquired a 49.9% stake in Euroset, the largest mobile retailer in Russia and the CIS.[13]

In 2010 the ticker “VIP” was transferred to VimpelCom Ltd. holding. In February 2017, VimpelCom renamed itself Veon, after the messaging platform that it had developed.[14]

Restatement

On April 14, 2005, the company decreased its net income in 2002 and 2003 as a result of this restatement : 2002 - $2.8 million or 2.2%, 2003 - $5.2 million or 2.2%.[15]

References

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