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. (NASDAQ: VEON) has successfully prepaid its RUB 30 billion (about USD 259 million) interest-bearing loan with VTB Bank, in compliance with applicable sanctions. This repayment signifies that VEON Group has no remaining loans with VTB Bank, enhancing its financial position. The company emphasizes that all transactions are aligned with the current compliance framework.
VEON Ltd. announces that Robert Jan van de Kraats has resigned from its Board of Directors effective March 7, 2022, citing personal reasons. Van de Kraats has been a member since July 2018 and served as Chairman of the Audit and Risk Committee. Gennady Gazin, Chairman of the Board, expressed gratitude for his contributions. A new chairperson for the Audit and Risk Committee will be appointed later. The company emphasizes that forward-looking statements in the release are subject to risks and uncertainties.
VEON Ltd. (NASDAQ: VEON), a global provider of connectivity and internet services, announced that it is not subject to EU sanctions following the sanctions imposed on Mikhail Fridman and Peter Aven on February 28, 2022. VEON clarified that it has no ultimate controlling shareholder, with L1T VIP Holdings S.à r.l. holding 47.85% of shares. Fridman and Aven have no voting interests in VEON shares outside of their indirect interest in LetterOne, and they have stepped down from their roles. The company also cautioned about risks associated with forward-looking statements.
VEON Ltd. (NASDAQ: VEON) provided an update on its liquidity position as of February 27, 2022, stating it has approximately USD 2.1 billion in cash and deposits, with USD 1.5 billion held at its Amsterdam headquarters. Additionally, the company has a USD 1.250 billion committed revolving credit facility (RCF), of which USD 430 million has been drawn on February 28 to repay maturing notes. Following this, USD 820 million remains undrawn under the RCF. VEON has no further debt maturities in 2022, and the next maturity is scheduled for February 2023.
VEON Ltd. announced the resignation of Mr. Fridman from its Board of Directors, effective February 28, 2022. This change may impact the corporate governance of the company, as Fridman has been a significant figure within the organization. The press release includes standard disclaimers regarding forward-looking statements and inside information under relevant regulations.
For more information, visit the company's official website.
VEON Ltd. (NASDAQ: VEON) announced a revised Group Executive Committee (GEC) incentive plan, effective from the 2022 Short Term Incentive (STI) awards. The STI now comprises 50% shares and 50% cash, linked to financial and non-financial KPIs. A new Long Term Incentive (LTI) scheme has been introduced, measuring total shareholder return over three years. GEC members must achieve a minimum shareholding of 6.0x for the CEO and 2.0x for others. A one-off share award has also been granted to offset initial cash losses from the STI revision.
VEON Ltd. (NASDAQ: VEON) announced a share award to its Group Chairman, Gennady Gazin, receiving 1,224,086 shares, and Hans-Holger Albrecht, Chairman of the Digital and Innovation Committee, awarded 1,360,095 shares. This annual pro-rata award will vest on June 10, 2022, with a holding period until July 16, 2023. The decision, made by the Nomination and Corporate Governance Committee, acknowledges their significant contributions during a transformative year for VEON's executive leadership.
VEON Ltd. reported its 2021 financial results, revealing full-year revenue of USD 7,788 million (+10.1% YoY in local currency) and EBITDA of USD 3,332 million (+8.9% YoY). The company achieved a net income of USD 801 million and a capex of USD 1,826 million, with a cash balance of USD 2.3 billion and undrawn credit lines of USD 1.5 billion. The net debt/EBITDA ratio stood at 2.44x, indicating a focus on deleveraging. VEON also closed a tower transaction in Russia and enhanced its digital services, marking significant growth across its markets.
VEON Ltd. (NASDAQ: VEON) announces its MobileID authentication system is gaining traction as a potential global standard to replace social network-based authentication. The system has grown from 600,000 users in December 2021 to over 1 million, leading to its expansion in Uzbekistan, Georgia, and Pakistan. Supported by GSMA and other major mobile operators, MobileID enhances security through multi-factor authentication while simplifying online access for users. VEON aims to protect user data through regulated service providers and plans to further promote MobileID's adoption.
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