Beeline Taken Over By Lao Government

VEON Ltd. , a leading global provider of connectivity and internet services headquartered in Amsterdam and serving more than 235 million customers, today announces that its wholly owned subsidiary, VimpelCom Holding Laos B.V., has entered into an agreement to sell its 78% stake in VimpelCom Lao Co. Ltd (VimpelCom Lao) to the Government of the Lao People’s Democratic Republic (Government of the Lao PDR) for gross proceeds of USD 22 million.

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Laos Merely A Bystander As China Pushes Belt And Road Ambitions

An ambitious $6 billion high-speed railway project in Laos that would link China with the Laotian capital of Vientiane on the Thai border is meant to be a symbol of cooperation under Chinese President Xi Jinping’s flagship Belt and Road Initiative. But with Beijing calling the shots and leaving out locals, it has instead become another example of the pitfalls faced by small Southeast Asian countries in relying economically on their much larger neighbor.

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