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 (VEON) delivers mobile connectivity, digital services, and fixed-line solutions across emerging markets through brands like Beeline and Kyivstar. This page aggregates all official announcements and third-party coverage related to the company’s operations, financial performance, and strategic initiatives.
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Key coverage areas include quarterly financial results, partnership announcements, leadership updates, network expansion projects, and digital service launches. All content undergoes strict sourcing verification to ensure compliance with financial disclosure standards.
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VEON Ltd. has appointed PricewaterhouseCoopers Accountants N.V. as its statutory financial statement auditors for 2022. Due to the ongoing military conflict in Ukraine, the completion of the audit may miss the statutory deadline of April 30, 2023. Michiel Soeting, Chairman of the Group Audit and Risk Committee, expressed optimism about collaborating with PWC in concluding this crucial process. VEON, a global digital operator serving over 200 million customers, focuses on enhancing digital connectivity and economic growth.
VEON Ltd. announced that it has received the necessary OFAC License, allowing participation in the Scheme Meeting scheduled for January 24, 2023, via Zoom. This license permits all noteholders and related parties to vote on the Scheme, ensuring compliance with applicable laws. Scheme Creditors must submit their Voting and Proxy Forms by January 19, 2023. The company continues to seek all required authorizations for the Scheme's implementation, pending court approval. VEON is a global provider of connectivity and online services to over 200 million customers across seven markets.
Amsterdam, 23 December 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) has released its unaudited interim condensed financial statements for the nine and three-month periods ended September 30, 2022. These results are based on IFRS and have not been externally reviewed. The company operates as a global digital operator serving over 200 million customers across seven markets.
VEON warns that actual results may vary from the information provided, and relies on internal management accounts for reporting.
VEON Ltd. and VEON Holdings B.V. announced a proposed scheme of arrangement following a court order allowing the convening of a Scheme Meeting on 24 January 2023. This virtual meeting aims to secure approval from Scheme Creditors regarding the 2023 Notes, including USD1 billion due February 2023 and USD700 million due April 2023. Creditors must submit their valid Voting and Proxy Forms by 19 January 2023. Further details and voting procedures can be found on the Scheme Website.
VEON Ltd. announces the results of the Scheme Convening Hearing held on December 20, 2022, regarding the 2023 Notes. A Convening Order was issued allowing the Scheme Creditors to consider changes to the Scheme. Notably, amendments concerning consent thresholds and quorum requirements have been removed. The Scheme Meeting is scheduled for January 24, 2023, at 10:00 a.m. (London time), where creditors can vote on the revised proposal. Additional documents, including the Explanatory Statement and Voting Forms, are accessible on the Scheme Website.
VEON announced significant success for its streaming service, Toffee, with one billion views of the FIFA World Cup and 15.5 million unique viewers for the finals in Bangladesh. This achievement reflects a major shift from traditional TV to digital platforms, demonstrating the growing trend of mobile streaming among football fans. Kaan Terzioglu, CEO of VEON Group, highlighted the role of high-speed telecom investments in this success. Toffee, operated by Banglalink, offers open access across all telecom networks, enhancing digital entertainment consumption in Bangladesh.
VEON Ltd. has scheduled a Scheme Convening Hearing for its subsidiary, VEON Holdings B.V., related to the 2023 Notes on December 20, 2022, at the Royal Courts of Justice, London. This hearing will enable the company to seek an order for directions concerning its Scheme for the 2023 Notes. Scheme Creditors can attend and make representations either in person or remotely. The hearing time and location will be confirmed by the Court on December 19, 2022. The Scheme is crucial for ensuring compliance with creditors' approval processes.
VEON Ltd. has partnered with Turkcell to launch the BiP app in Pakistan through its Jazz platform, reaching 194 million mobile users. This collaboration aims to enhance the digital economy and provide secure messaging and instant translations in over 100 languages. The app offers features like voice and video calls, catering to a diverse audience. VEON's CEO emphasizes messaging as a strategic focus, with plans to expand digital services across their operating markets. The initiative reflects a broader vision to drive digital inclusion and economic growth in the region.
Turkcell and VEON's Jazz have signed a memorandum of understanding to introduce the BiP communication app in Pakistan. This strategic partnership aims to boost BiP's adoption, enhancing digital communication in the region. BiP offers instant messaging, voice and video calls, and unique features such as translation across 192 countries, with nearly 99 million downloads. Turkcell's CEO emphasized the importance of expanding digital services, while Jazz's CEO highlighted their strategy to serve over 120 million users. This collaboration not only strengthens ties between Turkey and Pakistan but also targets the growth of digital economies.
VEON Ltd. has updated its proposed Scheme of Arrangement for 2023 Notes, aiming to modify payment terms and extend maturity dates. The amendments include raising the Amendment Fee from 75bps to 200bps and adding a Put Right for noteholders to repurchase up to USD 600 million in notes. The proposal is subject to majority consent from noteholders and compliance with sanctions laws. The group's cash balance must exceed USD 1 billion on a specified test date for the Put Right to be exercisable.
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