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 announced that its Annual General Meeting of Shareholders is scheduled for 10 June 2021, with a record date of 5 May 2021. The Board of Directors has recommended a slate of 12 nominees, including 10 current members and two new candidates: Sergi Herrero, co-CEO, and Irene Shvakman, co-founder of Revo Technologies. Chairman Gennady Gazin emphasized the board's diverse expertise to capitalize on opportunities in the market. Further details will be shared with shareholders before the meeting.
VEON Ltd. has announced the launch of the JazzCash Business App, designed to enhance digital payments for Pakistan's merchants. This app allows business owners to facilitate transactions without visiting banks, providing features like real-time QR code generation, customizable digital invoices, and streamlined payments. JazzCash, which serves over 100,000 registered merchants, aims to promote a cashless economy. CEO Erwan Gelebart emphasized the app's role in supporting SMEs in their digital transformation, promising increased efficiency within Pakistan's expanding digital landscape.
VEON Ltd. announced the appointment of two new leaders: Alex Bolis as Group Head of Corporate Strategy, Communications and Investor Relations, and Dmitry Shvets as Group Head of Portfolio and Performance Management. Bolis brings experience from Telecom Italia, while Shvets has a private equity background from TPG. Both appointments aim to enhance VEON's strategic initiatives and performance management, supporting the company's goal to broaden services for its 210 million customers.
On April 16, 2021, VEON Ltd (NASDAQ: VEON) announced that Co-CEO Sergi Herrero will step down effective June 30, 2021, but will remain as an advisor, particularly regarding VEON Ventures. Kaan Terzioglu will continue as CEO, overseeing corporate and operational matters. Chairman Gennady Gazin praised Herrero's contributions, particularly in developing the ventures business focused on digital services in markets like Pakistan and Russia. VEON emphasizes its commitment to expanding digital businesses, including mobile financial services and digital content.
VEON Ltd. has successfully completed the acquisition of a 15% minority stake in PMCL, Pakistan's top mobile operator Jazz, from the Dhabi Group for USD 273 million. This acquisition grants VEON full ownership of PMCL, simplifying governance of its Pakistani operations. The move is expected to enhance VEON's ability to leverage growth opportunities in the region, particularly through 4G and digital services. Co-CEO Sergi Herrero expressed enthusiasm for this development, indicating a commitment to further expanding services in Pakistan.
VEON Ltd. (NASDAQ: VEON), a major global provider of connectivity and internet services, has submitted its Annual Report on Form 20-F for the fiscal year ending December 31, 2020, to the U.S. Securities and Exchange Commission. This report, detailing VEON's complete audited financial statements, is accessible on the SEC website and the company's Investor Relations page. Shareholders can request a hard copy of the Form 20-F free of charge by contacting VEON's Investor Relations Department.
VEON Ltd. (NASDAQ: VEON) has appointed Andrzej Malinowski as CEO of Beeline Uzbekistan, effective March 15, 2021. Malinowski transitions from his role as CEO of Beeline Georgia, where he was succeeded by Lasha Tabidze, the former Chief Operating Officer and Chief Commercial Officer. The company initially announced another candidate for the CEO position at Beeline Uzbekistan but could not finalize the hire.
VEON Ltd. announced that its subsidiary, Banglalink, has successfully acquired 4.4MHz in the 1800MHz band and 5MHz in the 2100MHz band, raising its total spectrum holding from 30.6MHz to 40MHz. This acquisition, made at an auction held on March 8, 2021, is valued at approximately BDT1,000 crore (around USD115 million), marking one of the largest investments in Bangladesh’s telecommunications sector in recent years. The additional spectrum is expected to enhance Banglalink’s network capabilities and support its expansion of nationwide 4G services.
VEON Ltd. has secured a new multi-currency revolving credit facility (RCF) worth USD 1.25 billion for VEON Holdings B.V. This agreement replaces a prior facility established in 2017 and includes an initial term of three years with options for two one-year extensions. The RCF will enable drawdowns in either USD or euros.
VEON's CFO noted improvements in capital structure, with a 150bp decrease in average funding costs, reducing annual interest expenses by roughly USD 100 million. This new facility enhances liquidity and financial flexibility for the Group.
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