OREANDA-NEWS.  “VimpelCom Ltd.” (“VimpelCom”, “Company” or “Group”) (NYSE:VIP),  announces today that the Company has received approximately USD 1.4 billion from Altimo Cooperatief U.A. (“Altimo”) for the conversion of 128,532,000 Convertible Preferred Shares of the Company owned by Altimo into Common Shares of the Company at a ratio of one Convertible Preferred Share for one Common Share. 

The conversion premium paid by Altimo to the Company upon conversion was USD 10.835 per share, representing the closing mid-market price of VimpelCom ADS on December 21, 2012, the date of Altimo’s conversion notice to the Company. Altimo's voting percentage, which is currently 47.9%, will not increase as a result of the conversion while its economic interest in the Company will increase from 52.7% to 56.2%, based on current outstanding share and ownership percentages.