|
Vimpelcom has had a great run over the past two years; however at the current price valuations have become stretched, forcing a sale.
Vimpelcom (ADR) is the smaller of the two main listed Russian mobile telcos. In Russia overall, mobile penetration is set to double from 25% to 50% in 2004, with average revenue per user buoyed by the networking effect. Vimpelcom also has exposure to growth in other CIS countries, specifically in Kazakhstan (the 2nd richest CIS country in terms of GDP per capita, but only 7th in terms of mobile penetration). Vimpelcom has a PE to growth of only 0.2X, and is generating free cash flow despite the heavy capital expenditure programme. Earnings are set to increase by 78% in 2004.
| Sedol |
Type |
Price |
Date |
| 2943675 |
Sell |
USD 98.543 |
07/06/2007 |
| 2943675 |
Buy |
USD 47.295 |
20/04/2006 |
| 2943675 |
Buy |
USD 33.338 |
12/01/2005 |
|
