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In Brief: Vimpelcom upgraded

In Brief: Vimpelcom upgraded

DEUTSCHE Bank has upgraded to “buy” Moscow-based Vimpelcom, parent company of Beeline, following what appears to be the resolution of a dispute between its two main investors, it said Tuesday. Despite having downgraded it to “hold” on September 24, the bank upgraded the telecoms firm after it announced that main shareholders Altimo and Telenor had effectively settled a previous dispute over operations in Russia by agreeing to establish Vimpelcom Ltd, a new firm. Despite Deutsche Bank’s upgrading its price target to US$23.10, the stock fell 2.54 percent Tuesday on the New York Stock Exchange to $19.20.

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