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. reports developments as a Nasdaq-listed digital operator providing connectivity and digital services through mobile, fixed-line and broadband networks. Company news commonly covers operating and financial results, integrated annual reporting, governance actions from annual general meetings, ADS program updates and capital allocation policies.
Recurring operating updates include Kyivstar activity in Ukraine, Banglalink activity in Bangladesh, satellite-enabled connectivity agreements with Starlink, network resilience investments and the expansion of digital services such as healthcare, ride-hailing, delivery and enterprise connectivity. These updates describe how VEON combines telecom infrastructure with consumer and business digital platforms across its markets.
On December 1, 2021, VEON Ltd. announced a voluntary disclosure regarding securities transactions by Kaan Terzioglu, the Group CEO. On November 26 and 29, 2021, Terzioglu purchased 100,000 ordinary shares for an average market price of RUB 134.95, totaling RUB 13,494,539. Following this purchase, he holds 900,000 ADR/ORDs in the company. VEON, listed on NASDAQ and Euronext Amsterdam, is a global provider of connectivity and internet services.
VEON Ltd. has signed a Memorandum of Understanding with Bilim Tech to launch the Astrum IT Academy in Uzbekistan, aimed at educating 2,000 IT students annually in AI programming and big data analytics. This initiative supports Uzbekistan's Digital 2030 programme, fostering technology-led economic growth. VEON will provide educational services, internships, and real-life projects. The academy expects to train students in a purpose-built facility, with a focus on practical insights. Up to 10% of top students may secure long-term positions with VEON, enhancing the local tech workforce.
On November 2, 2021, Kaan Terzioğlu, the Group CEO of VEON, purchased 100,000 American Depositary Receipts (ADRs) at a price of USD 2.11, totaling USD 211,480. This transaction increased his total holdings to 800,000 ADRs. VEON, a global provider of connectivity and internet services, is listed on NASDAQ and Euronext Amsterdam. The acquisition reflects Terzioğlu's confidence in the company's prospects and aligns with the company's strategic initiatives in the connectivity sector.
VEON Ltd. (VEON) reported robust financial results for Q3 2021, with revenues of USD 2,005 million, reflecting a 10.2% year-over-year increase. Local currency revenue growth reached 11.2%, driven by strong performance in key markets such as Russia, Kazakhstan, and Pakistan. EBITDA rose by 8.6% to USD 889 million, with a local currency increase of 9.1%. Notably, equity free cash flow improved to USD 308 million. The company raised its FY2021 Group EBITDA guidance to a minimum local currency growth of 8%.
VEON Ltd has signed a seven-year agreement with Amdocs to enhance digital services for its Beeline mobile operations in Uzbekistan and Kazakhstan. This agreement will enable the deployment of Amdocs's microservices-based technology, aimed at providing personalized digital experiences. As of June 30, 2021, VEON serves 6.7 million customers in Uzbekistan and 10 million in Kazakhstan, with over 56% and 58% being 4G users, respectively. VEON aims to become a leading digital operator, leveraging this partnership to innovate and adapt its services.
VEON Ltd. announced the departure of long-serving General Counsel, Scott Dresser, effective December 31, 2021. Appointed in August 2014, Dresser has significantly influenced VEON’s governance and strategic initiatives, including navigating a U.S. DOJ/SEC compliance monitorship that concluded in 2019. Under his leadership, the legal department received recognition as a top legal team in the UK/Europe. Dresser will remain as a strategic advisor to the Chairman of the Board, Gennady Gazin, who praised his contributions to the company.
VEON Ltd. (NASDAQ: VEON) has partnered with Sechenov University to launch an Artificial Intelligence Laboratory in Russia. This initiative aims to enhance healthcare technologies, focusing on predictive medicine in traumatology and oncology. Over 120 professionals from both organizations will collaborate on projects to improve high-precision diagnostics. The laboratory seeks to leverage AI for better diagnostic accuracy and treatment predictions based on extensive medical data analysis. This move marks a step toward innovative healthcare solutions and aims to integrate AI into the Russian healthcare system.
On September 17, 2021, VEON Ltd. disclosed a securities transaction involving Erik Aas, CEO of Banglalink. On September 9, 2021, Aas purchased 100,000 ADRs of VEON at a market price of USD 2.1982, totaling USD 219,820. Post-transaction, his holdings amount to 200,000 ADRs. This transaction highlights management's confidence in the company's future amid existing market dynamics.
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VEON Holdings B.V. has announced the pricing of its 5-year RUB 20 billion (approximately USD 273 million) senior unsecured notes with an interest rate of 8.125%, due in 2026. This issuance marks the third Russian Rouble-denominated bond offering under its Global Medium Term Note Programme. The settlement date is set for September 16, 2021, and the proceeds will be utilized for general corporate purposes. VEON is actively monitoring the international capital markets for future offerings, depending on market conditions.