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Technology Stocks : Vimpel Comm (VIP) ADR's of the Russian Cellular Phone Co. -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (71)	8/11/1998 3:02:00 PM
From: Elsewhere	Read Replies (1) \| Respond to of 283

Russia Stocks Routed By More Panic Selling The Wall Street Journal Interactive Edition August 11, 1998 interactive.wsj.com (URL works only for subscribers) The key word for me is panic - it might indicate at least a short-term bottom. Jochen

To: djane who wrote (71)	9/1/1998 10:18:00 AM
From: Elsewhere	Respond to of 283

Another bottom-fishing attempt on the day of Clinton's arrival in Moscow. It seems that life goes on in Russia. By now most bad factors ought to be discounted: nationalization of "key industries" (Lukoil, Gazprom?), no government, ruble decay etc. That's a lot more bad news being discounted than in the US market which has a lot of room to fall if the USA experience a recession. The article is from wsj.com, yearly subscription $49. (Some advertisement to justify copy & paste ;-).) Best invest, Jochen The Wall Street Journal Interactive Edition August 31, 1998 Vimpel Chairman Says Business Hasn't Been Hurt Yet by Crisis NEW YORK -- Despite the collapsing economy and disintegrating government in Russia, the chairman of Russian cellular-phone company AO Vimpel Communications said the firm's sales and subscriber base are growing but added that it is preparing for a "worst-case scenario." Shares of Vimpel, which in 1996 became the first Russian firm to be listed on the New York Stock Exchange, plunged last week as the crisis in Russia deepened. American depository receipts of Vimpel settled at $11 Friday, well of a 52-week high of $59.4375 and $20.25 last Monday. Its shares lost $3, or 27%, to close at $8 on Monday. "As early as last week," Chairman Augie Fabela said Monday in an interview with CNBC, data showed "growth continuing." Vimpel posted net income of $13.7 million, a 13% drop, on revenue of $99.3 million for the second quarter. Mr. Fabela said Vimpel remains realistic about the crisis and its impact on business. "We're waiting to see what's going to happen," he said. "We're preparing for the worst-case scenario." Mr. Fabela doesn't expect Russia to revert to a Soviet-style command economy. Nevertheless, the ability to raise capital for future growth remains uncertain, given the mass retreat of foreign investment from Russia. "We have financing in place for rest of 1998," Mr. Fabela said. But for 1999, the company may have to rely purely on cash flow, which, according to Mr. Fabela, is "very strong." When it released results last week, the Moscow-based company also cited increased spending in its cellular networks and higher provisions for doubtful accounts receivable. Vimpel is known in Russia by its Bee Line trade name. Dmitry Zimin, a former senior manager in a Russian defense radio and technology company, holds a 52.1% stake in the company. FGI Wireless Ltd., a private Illinois-based company, holds 32%. FMR Corp., the parent of mutual fund giant Fidelity Investments, earlier this year boosted its stake in Vimpel to 11.34%. Russia's crippled financial markets all but collapsed last week amid a deepening political crisis, sending shock waves through markets across the globe. The government again canceled official ruble trading, and the local stock market plunged on growing speculation Russia's wrenching seven-year economic restructuring might unravel. The ruble devaluation could lead to higher inflation and further erode the average Russian's buying power. Many worry it could spark social turmoil, given the disparities in wealth that came with the collapse of the Soviet state. URL for this Article: interactive.wsj.com