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Vimpelcom plans to tackle Italian crisis

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CIOL Bureau
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ROME, ITALY: Telecoms operator Vimpelcom has put contingency plans in place if the Euro zone crisis starts to have a greater impact on its Italian business, including cutting costs and investment, its CEO said on Monday.

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"We try of course to have contingency plans. If revenues are not developing as planned we need to look at costs and investments. There is a potential cost cutting program and if we need to we could reduce our ambition in terms of investment," CEO Jo Lunder said on a conference call.

He added that Wind customer behavior had yet to alter significantly as a result of the crisis, which has resulted in a change of government in Italy.

Russia-focused Vimpelcom bought Italy's third biggest telecoms operator Wind as part of a wider $6 billion acquisition earlier this year.

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