Welcome to our dedicated page for Veon news (Ticker: VEON), a resource for investors and traders seeking the latest updates and insights on Veon stock.
VEON Ltd. reports developments as a Nasdaq-listed digital operator providing connectivity and digital services through mobile, fixed-line and broadband networks. Company news commonly covers operating and financial results, integrated annual reporting, governance actions from annual general meetings, ADS program updates and capital allocation policies.
Recurring operating updates include Kyivstar activity in Ukraine, Banglalink activity in Bangladesh, satellite-enabled connectivity agreements with Starlink, network resilience investments and the expansion of digital services such as healthcare, ride-hailing, delivery and enterprise connectivity. These updates describe how VEON combines telecom infrastructure with consumer and business digital platforms across its markets.
VEON (Nasdaq: VEON) has announced the launch of the first phase of its share buyback program, targeting up to USD 30 million in American Depositary Shares (ADS). This initial phase is part of a larger USD 100 million buyback plan, to be executed on the open market through a 10b5-1 plan with a registered broker-dealer, complying with Rule 10b-18.
The company believes its ADSs are currently undervalued compared to its operational performance and strategic potential. The buyback aims to optimize shareholder value and strengthen VEON's financial position. The timing and specifics of subsequent phases will depend on liquidity considerations, market conditions, and legal requirements.
VEON (Nasdaq: VEON) announces a strategic partnership with Engro for telecommunications infrastructure management, starting in Pakistan. The first phase involves transferring VEON's infrastructure assets under Deodar to Engro Corp's subsidiary, Engro Connect. Jazz will continue to lease Deodar's infrastructure for mobile services under a long-term agreement.
As part of the arrangement, Engro will pay Jazz approximately USD 188 million and guarantee Deodar's intercompany debt repayment of USD 375 million. The deal aligns with VEON's asset-light strategy, focusing on developing services-focused businesses. The arrangement is subject to legal and regulatory approvals in Pakistan.
VEON (Nasdaq: VEON) announces that the Shevchenkivskyi District Court of Kyiv has lifted the freezing of VEON's corporate rights in Kyivstar and other Ukrainian subsidiaries, which was imposed in October 2023. This decision removes concerns affecting market assessment of VEON's growth potential in Ukraine, one of its key operational markets. The company views this as positive for investors, Kyivstar's operations, and Ukraine's investment climate. VEON plans to explore opportunities for bringing international and local investors into Kyivstar, noting its position as the sole Ukrainian investment theme on U.S.-listed equity markets.
VEON (Nasdaq: VEON) announces that its subsidiary Kyivstar is launching a generative AI lab in partnership with Amazon Web Services (AWS). The initiative aims to help Ukrainian enterprises implement AI technologies to enhance business processes and support economic recovery. The lab will provide AI services including text and visual content generation, chatbots, and virtual assistants.
This partnership extends their December 2023 collaboration focusing on cloud migration and cybersecurity. As part of VEON's commitment to Ukraine's recovery, the company has announced a USD 1 billion investment plan for 2023-2027, increased from the previous USD 600 million, to fund network expansion, digital services, acquisitions, and social initiatives.
VEON (Nasdaq: VEON) announces that the Shevchenkivskyi District Court of Kyiv has ruled to unfreeze 47.85% of VEON's corporate rights in Kyivstar and 100% of rights in other Ukrainian subsidiaries. This decision removes all restrictions previously imposed on VEON's wholly owned subsidiary Kyivstar and other Ukrainian operations. The company recently consolidated its trading on Nasdaq and has committed to invest USD 1 billion through 2027 to rebuild Ukraine's digital infrastructure. Kyivstar, which is 100% owned by VEON, has been recognized among the top 5 investors in Ukraine, with VEON being the largest international investor in the country in 2022 and 2023.
VEON (Nasdaq: VEON) has consolidated its share trading exclusively on the Nasdaq Capital Market in New York, discontinuing its listing on Euronext Amsterdam. This strategic move aims to enhance trading liquidity and simplify reporting requirements. The company's shares will continue trading as American depositary shares (ADSs), with each ADS representing 25 common shares under the ticker symbol VEON.
Additionally, VEON has announced plans to relocate its Group headquarters to Dubai, positioning itself closer to its Central and South Asian markets and increasing visibility among Gulf investors. Upon completion, VEON will become the largest Nasdaq-listed company headquartered in Dubai.
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has published the 2023 Dutch Annual Report for its wholly-owned subsidiary VEON Holdings B.V., including audited consolidated financial statements for the year ended December 31, 2023. This publication completes VEON's commitment to noteholders regarding audited financial statements for 2024. The company previously filed its 2023 Dutch Annual Report for VEON on November 1, 2024, and its Annual Report on Form 20-F on October 17, 2024, with the latter being audited by UHY LLP according to PCAOB standards.
VEON (Nasdaq: VEON) announces the final steps of consolidating its trading exclusively on Nasdaq. The company's shares will cease trading on Euronext Amsterdam at the close of trading on November 22, 2024, with the delisting effective from November 25, 2024. VEON has extended the offer to pay ADS issuance fees until December 6, 2024, for shareholders converting their Common Shares to ADSs. Shareholders must hold Common Shares in multiples of 25 for ADS conversion. Current ADS holders not holding Common Shares on Euronext Amsterdam need not take any action.
VEON's subsidiary Kyivstar has acquired new spectrum in Ukraine, investing UAH 1.43 billion (approximately USD 34 million). The acquisition includes 2x5 MHz in the 2100 MHz band and 40 MHz in the 2300 MHz band, increasing Kyivstar's total spectrum holding from 152 MHz to 202 MHz. This maintains its leading position among private operators in Ukraine. The investment is part of VEON's USD 1 billion commitment through 2027. Kyivstar currently serves over 23 million mobile subscribers, 1 million home internet subscribers, and provides digital healthcare services through Helsi to more than 28 million registered patients and 1,600 healthcare institutions.
VEON's subsidiary Beeline Uzbekistan has partnered with GSMA and Uzbekistan's Ministry of Digital Technologies to host M360 Eurasia 2025 in Tashkent on May 20-21, 2025. The Memorandum of Understanding was signed during M360 MENA 2024 in Doha, Qatar. M360 is GSMA's global event series that unifies regional mobile ecosystems to foster innovation and positive business environments. The event in Tashkent aims to support Uzbekistan's digitalization agenda and contribute to regional economic growth through mobile industry development.