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.
VEON Ltd. disclosed that Group CEO Kaan Terzioglu purchased 100,000 ADRs on September 8, 2021, at a market price of USD 2.15, totaling USD 215,000. Following this transaction, Terzioglu now holds 700,000 ADRs. This voluntary disclosure highlights executive confidence and alignment with shareholder interests, possibly positively influencing investor sentiment.
VEON Holdings B.V. has announced a drawdown of senior unsecured notes in Russian Roubles under its Global Medium Term Note Programme, initially established in April 2020. This marks the fourth drawdown under the programme, with a total limit set at US$6.5 billion. The proceeds from these notes will be utilized for general corporate purposes. The updated programme has been approved for listing on the Official List of the Luxembourg Stock Exchange. The Notes will not be registered under the U.S. Securities Act and are available only to qualified institutional buyers.
VEON Ltd (NASDAQ: VEON) has announced an increased investment in ShopUp, Bangladesh's top B2B commerce platform, as part of a $75 million Series B funding round, which ShopUp successfully closed. The investment allows ShopUp to enhance its infrastructure and develop new financial products for small retailers. This funding round is the largest of its kind in South Asia and brings ShopUp's total funding to over $110 million, reflecting over 13 times revenue growth in the past year. VEON's strategic involvement underscores its commitment to expanding digital services in the region.
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.