Amsterdam / CRWE PRESS RELEASE / May 24, 2016 - VimpelCom Ltd. (NASDAQ: VIP) and Global Telecom Holding S.A.E. (GTH) (EGX: GTHE, LSE: GLTD) today announce that Djezzy, their market-leading subsidiary in Algeria, has been awarded one of three licenses to provide 4G/LTE services in the country.
“We are proud that Djezzy has been granted the license to provide high-speed 4G/LTE services to our customers in Algeria and we look forward to the rollout in the summer of 2016. Algeria is a key market for VimpelCom and GTH and we are pleased to play a role in the further development of the country’s digital economy,” said Jon Eddy, VimpelCom Head of Emerging Markets and Chairman of GTH.
“VimpelCom has extensive expertise in the 4G/LTE field following its rollout in other VimpelCom markets such as Italy and Russia and we look forward to carrying this experience through to the Algerian market,” Jon added.
Vincenzo Nesci, Executive Chairman of Djezzy and CEO of GTH, said: “This is an excellent opportunity for Djezzy, as the leading operator in Algeria, to spearhead the development and implementation of such sophisticated technology in Algeria. It will facilitate further digital inclusion for our 17 million customers with the launch of new services and offers.”
“The 4G/LTE license is another example of Djezzy’s successful partnership with the Algerian Fonds National d’Investissement (FNI). We thank the Minister of Post and Information and Communication Technologies of Algeria for having concluded the process so swiftly and for opening the door to further development of Algeria’s digital economy,” Vincenzo added.
Djezzy has the largest network in Algeria with the widest coverage and is investing significantly to upgrade its networks further. This includes modernizing 2G services and completing the full deployment of 3G in all 48 of Algeria’s provinces by the end of 2016.
This release contains forward-looking statements. Forward-looking statements are not historical facts, and include statements relating to, among other things, the grant of a 4G license to Djezzy and its anticipated benefits and impact on our operations. Forward-looking statements involve risks and uncertainties. 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. The forward-looking statements speak only as of the date hereof, and GTH expressly disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this release.
VimpelCom (NASDAQ: VIP) is an international communications and technology company, headquartered in Amsterdam, and 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
About Global Telecom Holding
GTH, which is 51.9% owned by VimpelCom Limited, is a leading international telecommunications company operating mobile networks in high growth markets in Africa and Asia, having a total population under license of approximately 401 million as of March 31, 2016. GTH operates mobile networks in Algeria (“OTA”), Pakistan (“Mobilink”), and Bangladesh (“Banglalink”). GTH reached more than 86 million customers as of March 31, 2016. GTH is traded on the Egyptian Exchange under the symbol (GTHE.EY), and on the London Stock Exchange, its GDRs are traded under the symbol (GLTD:LI). For more information visit: http://www.gtelecom.com
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Source: VimpelCom Ltd.