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21 Mar 2016

Competition Commission of Pakistan approves Mobilink’s merger with Warid

Islamabad (March 16, 2016) - The Competition Commission of Pakistan (“CCP”) has approved the merger of Pakistan Mobile Communications Limited (“Mobilink”) and Warid Telecom (Private) Limited (“Warid”)*. This approval is the first of four required approvals from the local regulatory bodies, including the Pakistan Telecommunication Authority (“PTA”), the Securities & Exchange Commission Pakistan (“SECP”) and the State Bank of Pakistan (“SBP”). 

Commenting on the approval, Jean-Yves Charlier, CEO of VimpelCom, said, “We are pleased that the Competition Commission of Pakistan has approved our request to merge the two businesses. The combination of Mobilink and Warid will be a positive step for the development of technology and communications services in Pakistan. Together, the future entity will serve more than 45 million customers through a best-in-class mobile and high-speed network, and bring further investment into infrastructure and digital services for consumers in Pakistan as they navigate the digital world.”

Commenting on the approval, Jeffrey Hedberg, President and CEO of Mobilink, said,” We are delighted to receive the CCP’s approval, which is an important milestone in the merger process and paves the way for other regulatory approvals. We appreciate the role played by the CCP during this process and we look forward to progressing with the remaining regulatory bodies.”

The transaction is the first major merger in the mobile telecommunications sector in Pakistan. 

*Approval is subject to some remedial actions

DISCLAIMER:

This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, anticipated benefits from the Pakistan merger, including network improvements and synergies; future market developments and trends; and anticipated regulatory approvals. The forward-looking statements included in this release are based on management’s best assessment of the Company’s strategic and financial position and of future market conditions, trends and other potential developments. Forward-looking statements involve risks and uncertainties, including, without limitation, the possibility that: the conditions to completion will not be satisfied or waived or that the requisite regulatory approvals will not be obtained or will be obtained on terms not acceptable to the parties and the transaction; the expected benefits of the transaction may not materialize as expected or at all, due to, among other things, the parties’ inability to successfully implement integration strategies or otherwise realize the synergies anticipated; the businesses of either or both of Mobilink or Warid may not perform as expected prior to or following completion of the transaction due to uncertainty or other market factors; and other risks and uncertainties beyond the parties’ control may materialize. If such risks or uncertainties materialize or such assumptions prove incorrect, actual results could differ materially from those express or implied by such forward-looking statements or assumptions. Certain other factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2014 filed with the SEC and other public filings made by the Company with the SEC. The forward-looking statements speak only as of the date hereof, and the Company disclaims any obligation to update them or to announce publicly any revision to any of the forward-looking statements contained in these presentations, or to make corrections to reflect future events or developments.

About VimpelCom

VimpelCom (NASDAQ: VIP) is an international communications and technology company driven by a vision to unlock new opportunities for customers as they navigate the digital world. Present in some of the world’s most dynamic markets, VimpelCom provides more than 200 million customers with voice, fixed broadband, data and digital services. VimpelCom’s heritage as a pioneer in technology is the driving force behind a major transformation focused on bringing the digital world to each and every customer. VimpelCom offers services to customers in 14 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia, Laos, and Zimbabwe. VimpelCom operates under the “Beeline”, “Kyivstar”, “WIND”, “Mobilink”, “banglalink”, “Telecel”, and “Djezzy” brands.

Follow us on Twitter @VimpelCom, visit our blog @ blog.vimpelcom.com or website @http://www.vimpelcom.com 

Contact information

Media and Public Relations

VimpelCom Ltd.
Neil Moorhouse
Tel: +31 20 79 77 200 (Amsterdam)
pr@vimpelcom.com

Investor Relations

VimpelCom Ltd.
Remco Vergeer
ir@vimpelcom.com
Tel: +31 20 79 77 200 (Amsterdam)

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