VimpelCom Held Back by Italy

VimpelCom said its revenues in the fourth quarter of 2012 rose 3% year-on-year on an organic basis to 6 billion US dollars. That is slightly slower than the 4% growth recorded across 2012. In the fourth quarter, VimpelCom revenues rose 4% in Russia and the Ukraine, 21% in the CIS and 11% in Africa and Asia, but fell 4% in Italy, thanks to a mandated decline in mobile termination rates. source: VimpelCom presentation