Vimpelcom Ltd plans to save $ 750 million over three years
Vimpelcom Ltd announced its intention to use a new work strategy. This strategy, according to representatives of the company, will help the group significantly reduce operating and capital costs using digital technologies and entering into new cooperation agreements, Kommersant writes . The company is also considering the possibility of consolidation, to reach a new level of work in the countries where Vimpelcom Ltd. operates.
The official statement of the telecommunications group is talking about finding new sources of revenue. So, Vimpelcom Ltd plans to develop a segment of services for commercial structures, offering such structures “digital” services. “Reduce costs and improve operating results by completely rebuilding business models. Simplify the structure, “digitize” workflows and globalize our operations in order to better utilize our scale, ”a Vimpelcom representative commented on the situation. Thanks to the introduction of the new strategy, the group hopes to save $ 750 million by saving on capital and operating costs.
With regard to consolidation, as mentioned above, the company plans to use this opportunity to "provide access to the first or second strong position in the market in all countries where it has operations." So, Vimpelcom Ltd has already held talks with the Hong Kong company Hutchison Whampoa about the possibility of a merger in Italy. These negotiations, according to the head of Vimpelcom, are "at an advanced stage."
Revenues of the group of companies in the second quarter fell by 26% compared to the same period last year. In monetary terms, the amount of revenue amounted to $ 3.76 billion. As for Russia, then the revenue of PJSC VimpelCom decreased by 35%, to $ 1.25 billion in monetary terms.
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The main asset of the group of companies in Russia is the cellular operator Vimpelcom.
The official statement of the telecommunications group is talking about finding new sources of revenue. So, Vimpelcom Ltd plans to develop a segment of services for commercial structures, offering such structures “digital” services. “Reduce costs and improve operating results by completely rebuilding business models. Simplify the structure, “digitize” workflows and globalize our operations in order to better utilize our scale, ”a Vimpelcom representative commented on the situation. Thanks to the introduction of the new strategy, the group hopes to save $ 750 million by saving on capital and operating costs.
With regard to consolidation, as mentioned above, the company plans to use this opportunity to "provide access to the first or second strong position in the market in all countries where it has operations." So, Vimpelcom Ltd has already held talks with the Hong Kong company Hutchison Whampoa about the possibility of a merger in Italy. These negotiations, according to the head of Vimpelcom, are "at an advanced stage."
Revenues of the group of companies in the second quarter fell by 26% compared to the same period last year. In monetary terms, the amount of revenue amounted to $ 3.76 billion. As for Russia, then the revenue of PJSC VimpelCom decreased by 35%, to $ 1.25 billion in monetary terms.
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The main asset of the group of companies in Russia is the cellular operator Vimpelcom.
Source: https://habr.com/ru/post/293384/
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