The third largest mobile operator in Russia, Vimpelcom, announced last Wednesday that competition and tougher regulations had affected the sales growth of the firm in the third quarter.
The largest market of Vimpelcom is Russia as it started to move into emerging markets. These markets are Africa and Asia as well as in continental Europe, where the firm owns Wind in Italy. The expansion being conducted had placed the firm in nearly USD20 billion in debt.
The regulatory pressure affecting its income came from Africa and Asia while the fee reduction in the Italian market's rules on the use of competitor networks had resulted in a 1% decrease in third quarter revenues to USD5.7 billion.
According Vimpelcom ECO Jo Lunder, in an interview of Reuters, "We see increased government pressure and see effects of regulations, some of the markets are slowing down and right now the year to date growth is below the three-year objective we have set ourselves."
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