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INVESTMENTS IN SUBSIDIARIES (Tables) | 12 Months Ended
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Dec. 31, 2017
INVESTMENTS IN SUBSIDIARIES |
Schedule of information about significant subsidiaries |
|  |  |  |  |  | Equity interest held by the Group |
|  | Country of incorporation |  | Nature of subsidiary |
Name of significant subsidiary |  | 2017 |  | 2016 |
VEON Amsterdam B.V. |  | Netherlands |  | Holding |  |  | 100 | % |  | 100 | %
VEON Holdings B.V. |  | Netherlands |  | Holding |  |  | 100 | % |  | 100 | %
PJSC VimpelCom |  | Russia |  | Operating |  |  | 100 | % |  | 100 | %
JSC "Kyivstar" |  | Ukraine |  | Operating |  |  | 100 | % |  | 100 | %
LLP "KaR-Tel" |  | Kazakhstan |  | Operating |  |  | 75.0 | % |  | 75.0 | %
LLC "Tacom" |  | Tajikistan |  | Operating |  |  | 98.0 | % |  | 98.0 | %
LLC "Unitel" |  | Uzbekistan |  | Operating |  |  | 100 | % |  | 100 | %
LLC "VEON Georgia" |  | Georgia |  | Operating |  |  | 80.0 | % |  | 80.0 | %
CJSC "VEON Armenia" |  | Armenia |  | Operating |  |  | 100 | % |  | 100 | %
LLC "Sky Mobile" |  | Kyrgyzstan |  | Operating |  |  | 50.1 | % |  | 50.1 | %
VimpelCom Lao Co. Ltd. |  | Lao PDR |  | Operating |  |  | 78.0 | % |  | 78.0 | %
VEON Luxembourg Holdings S.à r.l. |  | Luxembourg |  | Holding |  |  | 100 | % |  | 100 | %
VEON Luxembourg Finance Holdings S.à r.l. |  | Luxembourg |  | Holding |  |  | 100 | % |  | 100 | %
VEON Luxembourg Finance S.A. |  | Luxembourg |  | Holding |  |  | 100 | % |  | 100 | %
Global Telecom Holding S.A.E |  | Egypt |  | Holding |  |  | 57.7 | % |  | 51.9 | %
Omnium Telecom Algérie S.p.A.* |  | Algeria |  | Holding |  |  | 26.3 | % |  | 23.7 | %
Optimum Telecom Algeria S.p.A.* |  | Algeria |  | Operating |  |  | 26.3 | % |  | 23.7 | %
Pakistan Mobile Communications Limited |  | Pakistan |  | Operating |  |  | 49.0 | % |  | 44.0 | %
Banglalink Digital Communications Limited |  | Bangladesh |  | Operating |  |  | 57.7 | % |  | 51.9 | %
Wind Telecom S.p.A.** |  | Italy |  | Holding |  |  | — |  |  | 100 | %
* The Group has concluded that it controls Omnium Telecom Algérie S.p.A and Optimum Telecom Algeria S.p.A even though its subsidiary, Global Telecom Holding S.A.E. owns less than 50% of the ordinary shares. This is because the Company can exercise operational control through a shareholders' agreement. ** On December 1, 2017, Wind Telecom S.p.A. merged into VEON Holdings.
Schedule of information about materially partly-owned subsidiaries |
|  | Equity interest held by NCIs |  | Book values of material NCIs |  | Profit / (loss) attributable to material NCIs |
Name of significant subsidiary |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |
LLP "KaR-Tel" ("Kar-Tel") |  |  | 25.0 | % |  | 25.0 | % |  | 252 |  |  | 253 |  |  | 8 |  |  | 10 |
LLC "Sky Mobile" ("Sky Mobile") |  |  | 49.8 | % |  | 49.8 | % |  | 167 |  |  | 164 |  |  | 3 |  |  | (21 | )
Global Telecom Holding S.A.E ("GTH") |  |  | 42.3 | % |  | 48.1 | % |  | (778 | ) |  | (219 | ) |  | (40 | ) |  | 116 |
Omnium Telecom Algérie S.p.A. ("OTA") |  |  | 73.7 | % |  | 76.3 | % |  | 1,235 |  |  | 1,332 |  |  | 100 |  |  | 141 |
Schedule of summarized income statement of subsidiaries before inter-company eliminations |
|  | Kar-Tel |  | Sky Mobile |  | GTH |  | OTA |
|  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |
Operating revenue |  |  | 348 |  |  | 308 |  |  | 534 |  |  | 108 |  |  | 136 |  |  | 164 |  |  | 3,015 |  |  | 2,955 |  |  | 2,894 |  |  | 915 |  |  | 1,040 |  |  | 1,273 |
Operating expenses |  |  | (296 | ) |  | (255 | ) |  | (410 | ) |  | (97 | ) |  | (162 | ) |  | (93 | ) |  | (2,384 | ) |  | (2,463 | ) |  | (2,462 | ) |  | (703 | ) |  | (753 | ) |  | (922 | )
Other (expenses) / income |  |  | (7 | ) |  | 2 |  |  | 97 |  |  | (2 | ) |  | (12 | ) |  | 29 |  |  | (450 | ) |  | (213 | ) |  | (364 | ) |  | (27 | ) |  | (33 | ) |  | (72 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Profit / (loss) before tax |  |  | 45 |  |  | 55 |  |  | 221 |  |  | 9 |  |  | (38 | ) |  | 100 |  |  | 181 |  |  | 279 |  |  | 68 |  |  | 185 |  |  | 254 |  |  | 279 |
Income tax expense |  |  | (13 | ) |  | (14 | ) |  | (51 | ) |  | (4 | ) |  | (5 | ) |  | (10 | ) |  | (375 | ) |  | (144 | ) |  | (115 | ) |  | (49 | ) |  | (69 | ) |  | (106 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Profit / (loss) for the year |  |  | 32 |  |  | 41 |  |  | 170 |  |  | 5 |  |  | (43 | ) |  | 90 |  |  | (194 | ) |  | 135 |  |  | (47 | ) |  | 136 |  |  | 185 |  |  | 173 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total comprehensive income / (loss) |  |  | 32 |  |  | 41 |  |  | 170 |  |  | 5 |  |  | (43 | ) |  | 90 |  |  | (194 | ) |  | 135 |  |  | (47 | ) |  | 136 |  |  | 185 |  |  | 173 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Attributed to NCIs |  |  | 8 |  |  | 10 |  |  | 44 |  |  | 3 |  |  | (21 | ) |  | 40 |  |  | (40 | ) |  | 116 |  |  | 26 |  |  | 100 |  |  | 141 |  |  | 132 |
Dividends paid to NCIs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 116 |  |  | — |  |  | — |  |  | 82 |  |  | — |  |  | (57 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of summarized financial position of subsidiaries before inter-company eliminations |
|  | Kar-Tel |  | Sky Mobile |  | GTH |  | OTA |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Property and equipment |  |  | 184 |  |  | 203 |  |  | 79 |  |  | 80 |  |  | 2,028 |  |  | 2,314 |  |  | 517 |  |  | 531 |
Intangible assets |  |  | 92 |  |  | 91 |  |  | 12 |  |  | 14 |  |  | 1,324 |  |  | 1,356 |  |  | 291 |  |  | 394 |
Other non-current assets |  |  | 204 |  |  | 205 |  |  | 131 |  |  | 147 |  |  | 1,806 |  |  | 2,268 |  |  | 1,361 |  |  | 1,417 |
Trade and other receivables |  |  | 22 |  |  | 16 |  |  | 6 |  |  | 6 |  |  | 250 |  |  | 222 |  |  | 31 |  |  | 44 |
Cash and cash equivalents |  |  | 14 |  |  | 29 |  |  | 32 |  |  | 33 |  |  | 375 |  |  | 606 |  |  | 125 |  |  | 309 |
Other current assets |  |  | 74 |  |  | 64 |  |  | 12 |  |  | 3 |  |  | 850 |  |  | 337 |  |  | 66 |  |  | 84 |
Financial liabilities |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,072 | ) |  | (2,903 | ) |  | (128 | ) |  | (343 | )
Provisions |  |  | (5 | ) |  | (7 | ) |  | (4 | ) |  | (15 | ) |  | (341 | ) |  | (396 | ) |  | (31 | ) |  | (28 | )
Other liabilities |  |  | (84 | ) |  | (94 | ) |  | (22 | ) |  | (29 | ) |  | (1,876 | ) |  | (1,787 | ) |  | (400 | ) |  | (492 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total equity |  |  | 501 |  |  | 507 |  |  | 246 |  |  | 239 |  |  | 1,344 |  |  | 2,017 |  |  | 1,832 |  |  | 1,916 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Attributed to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity holders of the parent |  |  | 249 |  |  | 254 |  |  | 79 |  |  | 75 |  |  | 2,157 |  |  | 2,236 |  |  | 597 |  |  | 584 |
Non-controlling interests |  |  | 252 |  |  | 253 |  |  | 167 |  |  | 164 |  |  | (778 | ) |  | (219 | ) |  | 1,235 |  |  | 1,332 |
Schedule of summarized cash flow statement of subsidiaries before inter-company eliminations |
|  | Kar-Tel |  | Sky Mobile |  | GTH |  | OTA |
|  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |
Net operating cash flows |  |  | 105 |  |  | 99 |  |  | 137 |  |  | 23 |  |  | 58 |  |  | 81 |  |  | 877 |  |  | 1,077 |  |  | (339 | ) |  | 345 |  |  | 446 |  |  | (706 | )
Net investing cash flows |  |  | (73 | ) |  | (124 | ) |  | (363 | ) |  | (24 | ) |  | 45 |  |  | (65 | ) |  | (924 | ) |  | (473 | ) |  | (823 | ) |  | (172 | ) |  | (238 | ) |  | (201 | )
Net financing cash flows |  |  | (48 | ) |  | (83 | ) |  | (110 | ) |  | — |  |  | (115 | ) |  | (88 | ) |  | (157 | ) |  | (492 | ) |  | (1,032 | ) |  | (350 | ) |  | (288 | ) |  | (1,270 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | — |  |  | 1 |  |  | (5 | ) |  | — |  |  | (1 | ) |  | (3 | ) |  | (18 | ) |  | (14 | ) |  | (151 | ) |  | (7 | ) |  | (14 | ) |  | (153 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase / (decrease) in cash equivalents |  |  | (16 | ) |  | (107 | ) |  | (341 | ) |  | (1 | ) |  | (13 | ) |  | (75 | ) |  | (222 | ) |  | 98 |  |  | (2,345 | ) |  | (184 | ) |  | (94 | ) |  | (2,330 | )

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