Reginal Thomas
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Reginal Thomas in reginal thomas,

A Disappointing Quarter For VimpelCom LTD.


Russian billionaire Mikhail Fridman's VimpelCom Ltd., reported a 2.2% fall in third quarter earnings as stiff competition weighs on calling prices. Earnings fell to $2.47 billion from $2.59 a year ago. Analysts were expecting earnings to come in at $2.49 . Sales also fell 1% to $5.69 billion. The Amsterdam based company also saw revenues fall in Africa, Asia, Ukraine, and surprisingly up in Italy.