VimpelCom Ltd. is facing criminal investigation over its Uzbek business a year after the carrier warned investors about its relationship with Takilant Ltd., a company that is the focus of a corruption probe at Swedish rival TeliaSonera AB. The stock fell to a 19-month low.
Gerard Kleisterlee , chief executive officer of Royal Philips Electronics NV, is the frontrunner among candidates being considered for the post of chairman at Vodafone Group Plc, the Financial Times reported, citing people familiar with the situation. Vodafone has drawn up a shortlist of three people to succeed John Bond , the FT said.
Russian authorities are trying to settle a dispute with Telenor ASA by October involving the company’s purchase of a stake in VimpelCom Ltd., Vedomosti newspaper reported, citing Igor Artemyev, head of the Federal Anti-Monopoly Service.
VimpelCom Ltd., the wireless carrier controlled by Russian billionaire Mikhail Fridman, climbed on speculation the company will sell or merge its Italian subsidiary Wind Telecomunicazioni SpA and cut debt.
Vodafone Group Plc is finalizing a deal to sell its 44 percent stake in French mobile operator SFR for 7 billion pounds ($11 billion) after talks with the owner of the remaining shares, Vivendi SA , the Observer said, without saying where it got the information.
Vodafone Group Plc Chief Executive Officer Vittorio Colao was under shareholder pressure to sell assets when he took over after his predecessors’ decade-long takeover binge. This week, he showed that his patience paid off.
An organized cybercrime ring is amassing profits by targeting smartphone users in Russia with promises of free downloads that turn out to be malicious software. Some Russians have seen their phone bills spike after downloading what they thought were free applications, songs or porn advertised to them in Twitter messages, according to Lookout Security, which plans to release a report about the scheme today.