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Stock Market & Financial Investment News

News Breaks
December 24, 2012
05:00 EDTVIPVimpelCom receives notice of Preferred Share conversion by Altimo
VimpelCom announced that Altimo Cooperatief U.A. has delivered a notice to the Company that Altimo intends to convert 128.53M Convertible Preferred Shares of the company owned by Altimo into Common Shares of the company at a ratio of one Convertible Preferred Share for one Common Share. The conversion date has been notified as April 16, 2013 and the conversion premium to be paid by Altimo to the company upon conversion is $10.84, the closing mid-market price on December 21, per Convertible Preferred Share. Based on this conversion premium, once Altimo converts its preferred shares into common shares the company will receive approximately $1.4B for the conversion. Altimo's voting percentage, which is currently 47.9%, will not increase as a result of the conversion while its economic interest in the company will increase from 52.7% to 56.2%, based on current outstanding share and ownership percentages.
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January 30, 2015
09:20 EDTVIPVimpelCom, Global Telecom announce close Algeria transaction
VimpelCom and its subsidiary Global Telecom Holding announce the closing of the sale by GTH of a 51% interest in Omnium Telecom Algeria SpA to the Algerian National Investment Fund, or the "FNI", for $2.6B. GTH and the FNI have entered into a shareholders agreement, which governs their relationship as shareholders in OTA going forward. GTH will continue to exercise operational control over OTA and, as a result, both GTH and VimpelCom will continue to fully consolidate OTA. VimpelCom CEO Jo Lunder commented: "Today, we have entered into a long-term relationship with the Algerian National Fund, creating a private-public ownership structure for Djezzy. With this new ownership structure, Djezzy is positioned better than ever to lead the way in Algeria, offering customers high quality mobile services and the best digital experience. The deal, on a group level, also releases significant cash amounts to GTH and VimpelCom to pay down gross debt."
January 29, 2015
10:00 EDTVIPOn The Fly: Analyst Downgrade Summary
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07:30 EDTVIPVimpelCom downgraded to Hold from Buy at Deutsche Bank
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January 19, 2015
13:15 EDTVIPVimpelCom COO Rene Schuster leaving company
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