VEON and Hala to Explore Partnership in Ride-hailing Services

Rhea-AI Summary

VEON (Nasdaq: VEON) signed a Memorandum of Understanding with Dubai's Hala on 17 February 2026 to explore cooperation in ride‑hailing and mobility across VEON operating markets.

The MoU frames evaluation of joint market entry, integration with VEON's digital ecosystem and leverages VEON's existing ride‑hailing experience and Hala's UAE platform expertise. VEON serves ~140 million digital users monthly across markets reaching 530 million people.

Key Figures

Population coverage: 530 million people Global population share: 6% Monthly digital users: 140 million +1 more

4 metrics

Population coverage 530 million people Population across Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh

Global population share 6% Share of world population in VEON’s five operating markets

Monthly digital users 140 million Approximate monthly digital users served across VEON platforms

Operating markets 5 markets Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh

Market Reality Check

Price: $52.45 Vol: Volume 75,782 is close to...

normal vol

$52.45 Last Close

Volume Volume 75,782 is close to the 20-day average of 78,165 (relative volume 0.97x). normal

Technical Shares trade slightly above the 200-day MA of 51.46 at a price of 52.45, about 18.05% below the 52-week high and 51.81% above the 52-week low.

Peers on Argus

Momentum data shows mixed peer action: LBTYB down 3.34% while SKM is up 7.25%, w...

1 Up 1 Down

Momentum data shows mixed peer action: LBTYB down 3.34% while SKM is up 7.25%, with no clear sector-wide move and no same‑day peer news flagged.

Previous Partnership Reports

5 past events · Latest: Jan 30 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 30	AI analytics partnership	Positive	-1.9%	Group-wide rollout of MindBridge AI analytics to strengthen controls.
Jun 03	Infra partnership close	Positive	-5.9%	Completion of $562.7M Pakistan infrastructure transfer to Engro Connect.
May 23	Infra deal approvals	Positive	-0.9%	Regulatory approvals for Deodar asset transfer and debt guarantee.
Dec 11	Kazakh LLM launch	Positive	+3.4%	Launch of open-source Kazakh LLM via national AI consortium.
Dec 05	Engro infra partnership	Positive	+1.9%	Announcement of strategic infrastructure partnership with Engro in Pakistan.

Pattern Detected

Partnership announcements have often seen muted to negative next‑day moves, despite strategically positive narratives.

Recent Company History

Recent history for VEON’s partnership news shows a mix of strategic tech and infrastructure deals. The MindBridge AI analytics partnership on Jan 30, 2026 and multiple Engro infrastructure agreements in Pakistan, plus the Kazakh language LLM collaboration in Dec 2024, all aimed to deepen VEON’s digital and asset‑light strategy. Price reactions have been negative on three of these five days, suggesting the market has not consistently rewarded partnership headlines, which frames the Hala ride‑hailing MoU as another step in a longer digital‑ecosystem build‑out.

Historical Comparison

-0.7% avg move · Past VEON partnership news (5 events) averaged a -0.68% next‑day move, showing generally muted to ca...

partnership

-0.7%

Average Historical Move partnership

Past VEON partnership news (5 events) averaged a -0.68% next‑day move, showing generally muted to cautious market reactions to similar strategic collaborations.

Partnerships have expanded from infrastructure sharing and AI analytics to national-language AI models; the Hala MoU extends this ecosystem-building into mobility and ride-hailing across VEON’s core markets.

Market Pulse Summary

This announcement outlines VEON’s plan to explore a ride‑hailing partnership with Hala across market...

Analysis

This announcement outlines VEON’s plan to explore a ride‑hailing partnership with Hala across markets totaling 530 million people and about 140 million monthly digital users. It extends a broader ecosystem strategy seen in prior AI and infrastructure partnerships. Investors may focus on how any eventual agreement scales beyond Ukraine and Uzbekistan, the structure of collaboration models, and how mobility services integrate with existing financial, healthcare, and marketplace offerings across VEON’s five core markets.

Key Terms

memorandum of understanding, mou, ride-hailing, e-hailing, +1 more

5 terms

memorandum of understanding regulatory

"announces that it has signed a Memorandum of Understanding with Hala, Dubai’s leading"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

mou regulatory

"The Memorandum of Understanding (MoU) was signed last week at VEON’s headquarters"

A memorandum of understanding (MOU) is a written agreement that outlines the basic terms and shared intentions between parties before a formal contract is drawn up. Think of it as a detailed handshake that signals commitment to work together; for investors it matters because an MOU can indicate a likely future deal, partnership or transaction that could affect a company’s strategy, revenues or risks, even though it often lacks full legal force.

ride-hailing technical

"to explore cooperation in expanding ride‑hailing and mobility services across VEON’s"

A ride-hailing service is a mobile app or online platform that matches passengers with drivers who provide on-demand, paid transportation; think of it like ordering a taxi through your phone the way you order a meal. It matters to investors because these services can scale quickly, generate fees and data without owning many vehicles, and face important factors such as local rules, driver costs, and customer growth that directly affect future profits and risk.

e-hailing technical

"Hala, Dubai’s leading local e-hailing taxi solution and a joint venture between"

E-hailing is the use of a mobile app or website to request and pay for on-demand transportation, matching passengers with nearby drivers and showing estimated arrival times and fares. Investors care because e-hailing shifts how transport services earn money — like turning taxis into an online delivery business — affecting revenue growth, pricing power, asset use, regulatory exposure, and labor costs, all of which influence profitability and market value.

digital ecosystem technical

"explore potential areas of integration within VEON’s broader digital ecosystem."

A digital ecosystem is a network of interconnected online tools, services, and platforms that work together to provide a seamless experience for users. It’s like a digital neighborhood where different services—such as shopping, communication, and entertainment—are linked, making it easier to access multiple functions in one place. For investors, understanding a digital ecosystem helps identify how a company’s digital presence can drive growth and create competitive advantages.

AI-generated analysis. Not financial advice.

Dubai, February 17, 2026 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or “the Company”), announces that it has signed a Memorandum of Understanding with Hala, Dubai’s leading local e-hailing taxi solution and a joint venture between Dubai’s Roads and Transport Authority (RTA) and Careem, to explore cooperation in expanding ride‑hailing and mobility services across VEON’s operating markets. The Memorandum of Understanding (MoU) was signed last week at VEON’s headquarters in Dubai.

The MoU establishes a framework for evaluating joint market entry and expansion opportunities, building on VEON’s existing experience in ride-hailing in Ukraine and Uzbekistan. VEON aims to leverage Hala’s operational expertise alongside its own digital scale and local market presence across frontier markets. The companies will also explore potential areas of integration within VEON’s broader digital ecosystem.

VEON Group CEO Kaan Terzioglu said: “At VEON, we are building digital services that improve the lives of our customers every day in some of the most exciting and underserved markets of our region. With our existing ride‑hailing operations in Ukraine and Uzbekistan, we already see strong demand for locally-built, locally-relevant solutions that give us the opportunity to deliver valuable experiences to our customers with multiple touchpoints on any given day. Our partnership with Hala has the potential to significantly accelerate the scale and impact of our mobility service offerings across our other markets.”

Khaled Nuseibeh, CEO of Hala, said: “Hala has developed a scalable ride-hailing platform in the UAE built around operational efficiency, technology integration and consistent service delivery. Through this MoU with VEON, we are exploring how that experience can support expansion into new markets where VEON already has strong digital reach and customer relationships. By combining VEON’s scale and ecosystem with Hala’s mobility expertise, we see potential to develop locally relevant ride-hailing platforms that integrate seamlessly with other digital services.”

The MoU signing ceremony was attended by Kaan Terzioglu, VEON Group CEO, Vitaly Shmakov, VEON’s Chief Investment Officer, Khaled Nuseibeh, CEO of Hala, and senior leadership from both organizations.

VEON and Hala plan to jointly assess the commercial, operational, and technological foundations for locally rooted ride‑hailing platforms to serve VEON’s markets. This includes evaluating collaboration models, customer acquisition strategies, and opportunities for future expansion.

VEON operates in Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh – five markets that are home to 530 million people,  6% of the world’s population. The company provides a broad range of services across digital platforms -financial services, insurance, entertainment, healthcare, online marketplaces, digital-first brands, learning, among others – serving approximately 140 million digital users monthly, in addition to its connectivity customers. Uklon, Ukraine’s leading ride-hailing platform which provides services in Ukraine and Uzbekistan, joined the VEON family of digital services in April 2025.

About VEON 
VEON is a digital operator that provides connectivity and digital services to nearly 150 million connectivity and 140 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.

About Hala
Hala is Dubai’s most convenient e-hailing taxi solution, easily booked through the Careem app. A joint venture between Careem and the Roads and Transport Authority (RTA), Hala leverages Careem’s ride-hailing technology and the local knowledge of the RTA to provide the most reliable and convenient rides across Dubai and Ras Al Khaimah. With a motivation to continuously elevate customer experience in public transportation, Hala has unlocked this incredible region by keeping Dubai connected and moving. 

www.halaride.com   
Forward-Looking Statements Disclaimer
This release contains “forward-looking statements”, within the meaning of the Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to VEON’s execution of its digital operator strategy and its expansion of ride-hailing services to new markets. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to uncertainty over VEON’s execution of its digital operator strategy and its expansion of ride-hailing services to new markets, among others discussed in the section entitled “Risk Factors” in VEON’s 2024 Form 20-F filed with the SEC on April 25, 2025 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.

Contact Information
VEON
Hande Asik
Chief Communications and Strategy Officer
pr@veon.com

Attachment

• Kaan Terzioglu, VEON Group CEO and Khaled Nuseibeh, Hala CEO at the MoU signing ceremony in Dubai

FAQ

What did VEON announce about a partnership with Hala on February 17, 2026?

VEON announced it signed an MoU with Hala to explore ride‑hailing cooperation across its markets. According to the company, the MoU sets a framework to evaluate joint market entry, integration with VEON's digital services and leveraging Hala's operational expertise.

Which VEON markets could be affected by the VEON–Hala MoU (Nasdaq: VEON)?

The MoU targets expansion across VEON's operating markets including Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh. According to the company, these five markets reach about 530 million people and are the focus for potential mobility service rollouts.

How might VEON integrate Hala into its digital ecosystem and users (VEON)?

VEON plans to evaluate integration opportunities between Hala's ride‑hailing platform and its digital services to increase touchpoints. According to the company, the aim is to combine Hala's mobility tech with VEON's scale to serve approximately 140 million monthly digital users.

Does the MoU with Hala create immediate commercial commitments for VEON shareholders?

No, the MoU is an exploratory framework rather than a binding commercial agreement at signing. According to the company, the parties will jointly assess commercial, operational and technological foundations before pursuing any concrete transactions or market entries.

How does VEON's prior ride‑hailing experience relate to the Hala partnership (VEON)?

VEON references existing ride‑hailing operations in Ukraine and Uzbekistan as a foundation for the partnership. According to the company, Uklon joined VEON's digital services in April 2025 and provides a model for scaling mobility offerings alongside Hala's UAE platform expertise.