Veon Ltd Stock Price, News & Analysis

VEON Ltd. has announced a partnership between its mobile operator Beeline in Russia and Yandex.Plus to launch a new tariff plan called 'People closest to you with Yandex.Plus'. This plan offers a single-payment package including voice minutes, internet, and unlimited messages, along with access to Yandex’s services like Kinopoisk and Yandex Music. Notably, usage of Yandex services will not count against the main traffic allowance. The initiative aims to enhance user convenience and reflects modern digital consumption habits.

VEON Ltd. has successfully secured bank financing of RUB 90 billion (approximately USD 1.215 billion) through its subsidiary VEON Finance Ireland. The financing involves two bilateral loan facilities of RUB 45 billion each from Sberbank and Alfa Bank, with terms spanning five years. The fixed and floating rate tranches aim to enhance VEON's capital structure and support corporate purposes, including intercompany loans to PJSC VimpelCom. CFO Serkan Okandan highlights this move as part of ongoing efforts to extend VEON’s debt maturity.

VEON Ltd. (NASDAQ: VEON) has appointed Andrey Pyatakhin as CEO of Beeline Kyrgyzstan, effective immediately. Pyatakhin, a veteran with over 20 years at VEON, aims to enhance Beeline Kyrgyzstan's growth trajectory after a stable 2021. Kaan Terzioglu, VEON's CEO, highlighted Kyrgyzstan's strong 4G market and recent spectrum acquisition as key growth factors. The company is focused on leveraging its technology-driven services to empower opportunities in emerging markets.

VEON Ltd. announces the appointment of Victor Biryukov as the new Group General Counsel, effective January 1, 2022. He succeeds Scott Dresser, who is stepping down on December 31, 2021. Biryukov, previously Vice-President for Legal at Beeline Russia, brings 23 years of corporate legal experience to his new role, where he will lead VEON's legal team and support strategic initiatives. The CEO, Kaan Terzioglu, endorses Biryukov's leadership as vital for VEON's governance and future business strategies.

VEON Ltd. has acquired IBS DataFort, a prominent cloud IT infrastructure provider. This acquisition, executed through VEON's VimpelCom subsidiary, enhances Beeline's cloud service offerings in Russia. IBS DataFort, established in 2001, is recognized for managed cloud services. The integration will bolster Beeline's market position and enable the development of innovative products in cloud, cybersecurity, and Big Data. CEO Kaan Terzioglu emphasized that this move supports VEON's digital operator strategy and technological expansion.

VEON Ltd. (NASDAQ: VEON) has announced ambitious medium-term financial targets for 2022-2024, aiming for a 10-14% CAGR in local currency revenue and EBITDA growth. The company anticipates a three-point EBITDA margin expansion, driven by a cost efficiency program that is expected to yield USD 250 million in annual savings by 2024. VEON plans to reduce its US dollar-denominated debt to below 40% of net debt while lowering its capex intensity below 20%. CEO Kaan Terzioğlu highlighted the growth potential across nine markets as the company transitions to a digital operator model.

VEON Ltd. (NASDAQ: VEON), a global connectivity provider, has launched a new long-term incentive plan for its Group Executive Leadership. This initiative aims to align executive compensation with shareholder value creation. Key features include:

• Performance shares with a three-year vesting period
• 50% of annual short-term incentives in VEON shares
• Shareholding requirements for executives, twice their annual base salary, and six times for the CEO

CEO Kaan Terzioğlu emphasized that the plan is crucial for the company's long-term success.

VEON Ltd. announces the global launch of its MobileID initiative, a comprehensive authentication and credential management system aimed at improving digital identity validation. The service is set to benefit 212 million customers across nine countries and will comply with local data privacy laws. Following successful trials in Russia, MobileID promises enhanced security for consumers and retailers, with features like universal login and faster service registration. This initiative marks a significant step in addressing online fraud while improving customer experience.

VEON Ltd. has launched its MobileID initiative aimed at providing secure authentication and credentials management for consumers and retailers. This service will be rolled out to 212 million customers across nine countries, ensuring compliance with local data privacy laws. MobileID integrates GSMA's Mobile Connect standard, allowing seamless identity verification both online and in physical stores. Following successful trials in Russia, MobileID will begin deployment in Uzbekistan and Kazakhstan. The initiative promises enhanced customer experiences and higher conversion rates for participating retailers.