Vimpelcom net income drops

RUSSIAN telecoms operator Vimpelcom posted a 29 per cent fall in its second-quarter net profit yesterday, blaming higher interest and depreciation costs following its acquisition of Wind Telecom.

The company, which bought a controlling stake in Italy’s Wind Telecom in April, said its net profit fell to $239m (£150m), including the results of the newly acquired assets. Vimpelcom saw debt jump to more than $20bn as a result of the deal.