Telecom service provider VimpelCom today said its Q3 2014 Capex (capital spending) rose 4 percent to $964 million, driven by investment in 4G LTE networks.

Capex excluding licenses of VimpelCom for the first nine months of 2014 increased 17 percent to $2.7 billion.

You may watch video interview with Jo Lunder, CEO, VimpelCom.

The company plans to maintain its strategy to invest in high-speed data networks to capture mobile data growth, including the rollout of 4G/LTE networks in Russia, 3G networks in Algeria, Bangladesh and Pakistan.

VimpelCom Q3 revenue dipped 3 percent to $5,145 million, while service revenue decreased 5 percent to $4,847 million and net income declined 59 percent to $104 million.

The Amsterdam based VimpelCom said its mobile data revenue grew 21 percent. Mobile customer base increased 5 million to 223.4 million.

Net income declined due to one-off costs related to recent refinancing of WIND and unfavorable Forex.

VimpelCom on telecom investment

Jo Lunder, CEO, VimpelCom, said: “We continued to execute on our strategy to invest in high speed data networks and we are now starting to see the benefits of this investment, both in network performance and in customer satisfaction.”

Baburajan K
[email protected]