Telecommunications holding Veon, which also owns Kyivstar in Ukraine, announces that it is selling the Russian company Vimpelcom, which in turn owns the Beeline brand.

This is reported by AIN.

Vimpelcom fully owns the Beeline brand, provides cellular services, as well as wired and wireless Internet access. Russian media reports that Veon plans to transfer the business to Russian top management.

The operator’s press service complained that the Russian authorities imposed many restrictions on the company due to a foreign holding in an “unfriendly” jurisdiction, which complicates the company’s position compared to its competitors. Beeline confirmed the beginning of the restructuring of the ownership of the operator.

Although Veon’s August report showed an increase in turnover in the second quarter of this year (up to $2.01 billion, half of which comes from the Russian business), the holding warned of possible risks in the further development of the network in Russia. And not because of war or sanctions, but because of problems with the provision of equipment.

It is also noted that Vimpelcom does not shy away from cooperating with the Russian government and helps to communicate with the Ukrainian territories occupied since February 24. The company also avoids the word “war” in its press releases and until recently was engaged in the development of its Russian business.