Telecoms group VimpelCom posted weaker than expected fourth-quarter results but reiterated plans to increase investment ahead of recovery in crisis-hit markets.
Net income was $283 million after a net loss of $816 million a year earlier, while revenue declined 9.6 percent to $2.31 billion. The company will earmark 15 percent to 20 percent of sales for capital expenditure this year after spending $814.1 million, or just above 9 percent of its $8.7 billion revenue, in 2009.
(Reuters)
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