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. announced the sale of its Russian mobile network towers to Service-Telecom for RUB70.65 billion (USD970 million). This transaction involves the sale of 100% of National Tower Company, which operates approximately 15,400 towers in Russia. A long-term master agreement will provide infrastructure services for PJSC VimpelCom, ensuring operational flexibility and improved mobile services. The transaction values at an EV/EBITDA multiple of 11.7x based on projected EBITDA. Closing is expected in Q4 2021, pending regulatory approvals.
VEON Ltd. announced a robust performance for 2Q21, highlighting a 9.2% revenue increase YoY and a 8.7% EBITDA growth. Local currency revenue grew 11.3% and EBITDA rose 10.7% YoY. Beeline Russia showed revenue growth of 6.2% YoY, contributing to improved financial metrics across operations in Ukraine, Kazakhstan, and Pakistan. The company also reported a total operational capex of USD 505 million and increased its revenue and EBITDA guidance for FY2021. Noteworthy digital services growth was recorded, with a total of 38 million monthly active users.
VEON (NASDAQ: VEON) announces its mobile operator Beeline's collaboration with Sechenov Medical University in Russia to utilize AI technology for medical diagnostics. The partnership aims to develop neural network algorithms for early detection of hip joint damage, kidney disease, and cancer. This technology, previously used in the 'Lisa Alert' project for locating missing persons, will now assist medical researchers in analyzing MRI images and histological sections. VEON's CEO highlights the significant role of mobile technology in improving healthcare outcomes.
VEON Ltd. announced the appointment of Michael Schulz as Group Chief People Officer, effective immediately. Previously from Puma Energy, Michael will be integral in enhancing talent management and ensuring continuity within VEON's leadership. His extensive HR experience at organizations like Petrofac and LafargeHolcim will contribute to executing VEON's growth strategy. CEO Kaan Terzioğlu emphasized the significance of human resources in achieving the company's objectives.
On July 15, 2021, VEON Ltd. (NASDAQ: VEON) announced the resignation of director Stephen Pusey, who has served on the Board since June 2020. Mr. Pusey will focus on other commitments, and the Board plans to fill his position soon. Gennady Gazin, the Chairman, expressed gratitude for Pusey's contributions. The company stated that forward-looking statements in the release involve inherent risks and uncertainties, emphasizing the ever-changing nature of the business landscape.
VEON Ltd. announced that it has exercised its put option to sell its 45.57% stake in its Algerian subsidiary, Omnium Telecom Algérie SpA, to the Algerian National Investment Fund. This transaction initiates a third-party valuation process to determine the fair market value for the sale. VEON aims to streamline operations and enhance focus on its core markets post-sale. The company's mobile network operator, Djezzy, is owned by Omnium.
VEON Ltd. announced that its Pakistani subsidiary, Jazz, has secured a PKR 50 billion (approximately USD 320 million) syndicated credit facility, marking a significant milestone in local telecom financing. This 10-year facility will fund 4G network rollouts and technology upgrades. Jazz has over 69 million subscribers and recently received an upgraded long-term rating of 'AA' from the Pakistan Credit Rating Agency. CFO Serkan Okandan emphasized the importance of local borrowing to strengthen the company's capital structure.
VEON Ltd has announced the acquisition of a majority stake in OTM, a leading automated advertising platform in Russia. This strategic move will enhance Beeline's position in the AdTech market and facilitate the expansion of OTM's services across VEON's mobile operators. The digital advertising market in Russia is projected to grow from $4 billion to $6 billion in five years, aligning with VEON's vision of leveraging AdTech for market growth. The existing management of OTM will continue to operate independently under VEON's umbrella, aiming to capitalize on the evolving digital landscape.
On June 10, 2021, VEON Ltd. held its Annual General Meeting, where shareholders elected three new board members: Vasily Sidorov, Irene Shvakman, and Sergi Herrero. Herrero, the co-CEO, will step down by the end of June. Shareholders reappointed PricewaterhouseCoopers as the independent auditor and adopted Amended and Restated Bye-laws. Approximately 99.30% of shares were represented at the meeting. The new directors bring extensive experience in telecoms, fintech, and investment, strengthening the board's expertise.
VEON Ltd (NASDAQ: VEON, Euronext Amsterdam: VEON) announces the launch of Kazakhstan's first digital payment card, named 'Simply,' by its operating company Beeline. This innovative card integrates with mobile financial services and links to an electronic wallet and a Visa Platinum card, supporting Apple Pay, Samsung Pay, and Garmin Pay. This initiative aims to enhance financial inclusion in Kazakhstan, where 40% of the population is unbanked, and is part of VEON's growth strategy in mobile financial services.
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