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. (Nasdaq: VEON) is a United Arab Emirates-based digital operator active in wireless telecommunications and digital services across Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. The VEON news page on Stock Titan aggregates company announcements, operating company updates, and regulatory communications that illustrate how the group is developing connectivity, digital services, and financial solutions in its core markets.
Recent news highlights VEON’s focus on next-generation connectivity and network resilience. Kyivstar in Ukraine has launched Starlink Direct to Cell satellite connectivity services and a 5G pilot zone in Lviv, while Beeline Kazakhstan has tested Starlink Direct to Cell for voice and messaging. Kyivstar has also invested in solar power generation as part of its energy resilience strategy. These stories show how VEON’s operating companies are combining terrestrial and satellite networks and investing in infrastructure to support reliable communications.
VEON’s news flow also covers digital financial services and financial inclusion. Mobilink Microfinance Bank in Pakistan has launched Islamic banking operations, and Banglalink in Bangladesh has received regulatory approval to operate as a payment service provider, enabling digital payment and money transfer services. Group-level announcements include VEON’s transfer to the Nasdaq Global Select Market and its inclusion in major equity indices such as the S&P Global Broad Market Index and the MSCI Ukraine Index.
Investors and followers of VEON can use this news page to review official press releases on connectivity initiatives, digital financial services, capital markets milestones, and corporate transactions involving VEON and its operating companies. The page provides a centralized view of how VEON’s strategy is reflected in concrete projects and regulatory developments across its five markets.
VEON (NASDAQ, Euronext Amsterdam: VEON), a global digital operator, has announced its intention to voluntarily delist from Euronext Amsterdam in the fourth quarter of 2024. This move aims to simplify and streamline the company's reporting requirements, resulting in a sole listing on Nasdaq. Following the delisting, VEON plans to initiate a buyback program for up to USD 100 million of its American Depositary Shares (ADS).
The company believes that its ADSs are currently undervalued relative to its operations, presenting an opportunity for share repurchases. The timing and specifics of the ADS buybacks will be determined by VEON's management and Board of Directors, considering factors such as liquidity, market conditions, and legal requirements.
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has published its 2023 Integrated Annual Report, highlighting the company's performance across financial, social, environmental, and governance metrics. Key achievements include:
- Expanded 4G coverage, with 60% of mobile customers on 4G by end of 2023
- Provided digital services in finance, entertainment, healthcare, and education
- Invested in employee training, averaging 40 hours per employee
- Increased share of senior female leaders
- Reduced Scope 1 and 2 CO2 emissions by 14% year-on-year
- Decreased total energy consumption by 0.4% despite 21% increase in data usage
VEON aims to continue driving sustainable growth through digitalization and AI-based solutions, focusing on financial inclusion and bridging the AI gap in its markets.
VEON (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator providing converged connectivity and online services, has announced the release of its Q2 2024 trading update on 8 August 2024 at approximately 7:00 CEST. The company will host a results conference call with senior management at 14:00 CEST on the same day.
To enhance shareholder engagement, VEON is partnering with Say Technologies to allow shareholders to submit and upvote questions for management. The Q&A platform will be available from 31 July at 14:00 CEST until 24 hours before the conference call at https://app.saytechnologies.com/veon-2024-q2.
Shareholders can register for the event and access the webcast or dial-in details through the provided link. VEON encourages participants to use the webcast link for the best experience.
VEON announces that its digital operator in Pakistan, Jazz, has secured the country's largest long-term private sector syndicated credit facility of up to PKR 75 billion (approximately USD 270 million). This 10-year financing arrangement will support Jazz's growth ambitions as Pakistan's leading provider of 4G connectivity and digital services.
The banking consortium, led by The Bank of Punjab, includes prominent financial institutions such as Habib Bank, Bank Alfalah, and Meezan Bank. This credit facility will accelerate the deployment of cutting-edge digital infrastructure in Pakistan, focusing on services important for realizing the potential of its young population and vibrant business landscape.
The agreement signifies trust and support for Jazz as the leading digital growth engine of the country, enabling its transition from a telco to a ServiceCo with investments in cloud, software, and financial services.
VEON's subsidiary Kyivstar is enhancing its network resilience in Ukraine by deploying an additional 848 industrial generators and 61,766 batteries. This investment aims to ensure service continuity during extended power blackouts caused by attacks on Ukraine's energy infrastructure. Kyivstar has already deployed 2,322 generators and 115,000 four-hour duration batteries at base stations.
The company has invested over USD 24 million in energy resilience over the past two years. This new deployment is part of Kyivstar's strategy to support critical connectivity across Ukraine, including facilities requiring at least three days of generating capacity during comprehensive power outages.
VEON and Kyivstar have committed to invest USD 1 billion in Ukraine over a five-year period from 2023 to 2027. Kyivstar was recently recognized as Ukraine's largest foreign investor in 2022 and 2023 by Forbes Ukraine and received the GSMA's Global Mobile Award for its Network Resilience Project at MWC 2024.
VEON has received an extension from Nasdaq to file its delayed 2023 20-F annual report. The company must submit the report by November 11, 2024, to regain compliance with listing rules. The delay stems from the war in Ukraine and the sale of VEON's Russian operations, which complicated the appointment of an independent audit firm. VEON has since appointed UHY LLP as its PCAOB auditor and is working towards completing the report by the fourth quarter of 2024.
VEON has announced the successful amendment of its 2025 and 2027 notes following the consent of bondholders and obtaining a license from the U.S. Treasury's Office of Foreign Assets Control (OFAC). The amendments effectively cancel the economic obligations under the original notes, relieving VEON Holdings from making principal or interest payments. In May and June 2024, new notes due in April 2025, June 2025, and November 2027 were issued to eligible investors. Additionally, VEON executed the early redemption of its September 2025 and September 2026 notes, concluding the consent solicitation process initiated in April 2024. The company also settled deferred considerations related to the sale of PJSC Vimpelcom. VEON shares continue to trade without restrictions on Nasdaq and Euronext-Amsterdam.
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has released its unaudited interim condensed consolidated financial statements for the three-month period ended 31 March 2024. These financial statements are based on internal management accounts and have not been externally reviewed or audited. VEON emphasizes that the financial information is subject to material variation and should not be overly relied upon. The full financial statements can be accessed on the VEON Group website.
VEON, a global digital operator, through its subsidiary Kyivstar, has announced an increase in its investment commitment to rebuild Ukraine's digital infrastructure to USD 1 billion over five years (2023-2027), up from the previously announced USD 600 million for three years. This investment will fund network and digital services, potential acquisitions, social contributions, and partnerships. VEON's leaders, including Chairman Augie Fabela and board member Michael R. Pompeo, will attend the Ukraine Recovery Conference to discuss this commitment. Kyivstar has already invested significantly in Ukraine, including building and upgrading LTE base stations, expanding 4G coverage, and investing in the country's energy resilience and digital healthcare. Kyivstar aims for near-universal 4G coverage and continues to support local businesses with digital services.
VEON held its Capital Markets Day 2024, revealing future goals and strategies until 2027.
Highlights include revenue growth of 16%-19% CAGR, EBITDA growth of 19%-22% CAGR, and a $900 million-$1 billion equity free cash flow target by 2027.
VEON aims to expand the EBITDA margin by 3 percentage points and increase multiplay customers to 50% by 2027.
Plans include reducing leverage, increasing local debt share, and maintaining a leverage ratio below 1.5x.
Additional targets for regional operations like Pakistan, Ukraine, and Kazakhstan were also shared, each with specific growth and revenue ambitions.
The CMD presentation will be available on VEON’s website.