Vimpelcom’s network, which owns the Beeline brand, is at risk of its development being halted due to sanctions that have caused difficulties in supplying equipment to Russia. If the sanctions are maintained, the development of the network will be frozen.
Kaan Terzioglu, CEO of Veon (owner of VimpelCom), said about the existing risks of freezing the development of the VimpelCom network (owner of the Beeline brand). “Without a doubt, development will slow down and risk stalling,” he said.
Terzioglu explained the risks with the difficulties in supplying equipment to Russia, which arose from the sanctions announced by the United States against the technology sector. The sanctions will lead to the halving of imports of high-tech products to Russia, the White House estimated.
Veon is actively selling cell phone towers: Last year alone, Service-Telecom bought more than 15,000 towers from the company for $970 million, and another 30,000 towers are for sale, the Veon boss said.
According to Veon’s report for the second quarter of 2022, half of the company’s revenue (about $1 billion) comes from operations in Russia.
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