VEON’s Kyivstar Acquires New Spectrum, Investing UAH 1.4 Billion in Ukraine’s Economy
Rhea-AI Summary
VEON's subsidiary Kyivstar has acquired new spectrum in Ukraine, investing UAH 1.43 billion (approximately USD 34 million). The acquisition includes 2x5 MHz in the 2100 MHz band and 40 MHz in the 2300 MHz band, increasing Kyivstar's total spectrum holding from 152 MHz to 202 MHz. This maintains its leading position among private operators in Ukraine. The investment is part of VEON's USD 1 billion commitment through 2027. Kyivstar currently serves over 23 million mobile subscribers, 1 million home internet subscribers, and provides digital healthcare services through Helsi to more than 28 million registered patients and 1,600 healthcare institutions.
Positive
- Increased spectrum holdings from 152 MHz to 202 MHz, maintaining market leadership
- Large customer base with 23M+ mobile and 1M+ home internet subscribers
- Significant market presence in digital healthcare with 28M+ registered patients
- Part of larger USD 1 billion investment commitment through 2027
- Recognition as Ukraine's largest foreign investor in 2022-2023
Negative
- None.
News Market Reaction – VEON
In the trading session that priced this news, VEON declined 2.06%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Amsterdam, Dubai and Kyiv, 20 November 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator (“VEON” or the “Group”), announces that its wholly-owned subsidiary in Ukraine, Kyivstar, has successfully acquired 2x5 MHz spectrum in the 2100 MHz band and 40 MHz spectrum in the 2300 MHz band at an auction held by Ukraine’s National Commission for State Regulation of Electronic Communications, Radio Frequency Spectrum, and Postal Services (NCEC).
Kyivstar will invest UAH 1.43 billion (c. 34 million USD1) in the Ukrainian economy through this spectrum acquisition. With this new acquisition, Kyivstar will boost its total spectrum holding from 152 MHz to 202 MHz, enabling it to retain the leading position among all private operators in Ukraine in terms of total amount of available spectrum.
"We have consistently stated that the time to invest in Ukraine is now, and have committed 1 billion USD in investments through 2027. Today's spectrum acquisition is further proof that VEON, through its subsidiary Kyivstar, is here to walk the talk. We have an unwavering commitment to building Ukraine's digital infrastructure, taking 4G connectivity across the nation, bolstering our network’s energy resilience to keep Ukraine connected, and investing in the digital services that Ukraine needs," said VEON Group CEO Kaan Terzioglu.
Kyivstar is the
1 National Bank of Ukraine official exchange rated as at 19.11.2024: 41.3715 UAH/USD
About Kyivstar
Kyivstar is the largest telecoms operator in Ukraine with over 23 million mobile subscribers and over 1 million home internet subscribers. As Ukraine’s market-leading operator, the company maintained network availability above
About VEON
VEON is a global digital operator provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in 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. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s commercial and investment plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
VEON
Hande Asik
Group Director of Communications
pr@veon.com
