VimpelCom Ltd., the wireless carrier controlled by Russian billionaire Mikhail Fridman, sank to a four-week low in New York as an unexpected decline in third- quarter revenue spurred concern the company will post its slowest sales growth on record this year.
When Bulat Utemuratov’s boss told him to go to Europe and open the first trading house for their newly independent Kazakhstan, his reaction was pure Soviet. “Oh no, They want to exile me,” Utemuratov remembers thinking with alarm.
OAO Rostelecom, Russia’s state- controlled telecommunications operator, plans to spin off mobile assets before their possible merger with VTB Group’s Tele2 Russia to form the fourth nationwide wireless operator.
VimpelCom Ltd., Russia’s third- biggest mobile carrier, is poised for the biggest monthly gain since August 2012 on prospects its inclusion in the Nasdaq benchmark index will bolster demand for the shares.