VEON’s Kyivstar Launches 5G Pilot in Lviv

VEON (Nasdaq: VEON) announced that Kyivstar (Nasdaq: KYIV) launched a 5G pilot in Lviv on January 12, 2026, implemented with the Ministry of Digital Transformation of Ukraine to evaluate network performance in real urban conditions.

Rhea-AI Summary

VEON (Nasdaq: VEON) announced that Kyivstar (Nasdaq: KYIV) launched a 5G pilot in Lviv on January 12, 2026, implemented with the Ministry of Digital Transformation of Ukraine to evaluate network performance in real urban conditions.

Kyivstar plans gradual expansion to Borodianka and Kharkiv, with Kyiv and Odesa planned later in 2026, while a full nationwide 5G rollout will be considered only after the end of the war. Kyivstar reported peak pre-launch 5G download speeds exceeding 2.4 Gbps and peak 4G speeds already above 1 Gbps in some areas. The company said it is investing USD 1 billion over 2023–2027 to rebuild connectivity and digital infrastructure, and that 5G will use 3500 MHz and 700 MHz bands in Ukraine.

Positive

• 5G pilot achieved peak download speeds exceeding 2.4 Gbps
• Peak 4G speeds already exceed 1 Gbps in some areas
• Planned expansion pilots to Borodianka and Kharkiv in 2026
• Committed USD 1 billion investment in Ukraine connectivity (2023–2027)

Negative

• Full-scale 5G rollout deferred until end of the war
• Operations challenged by ongoing attacks and blackouts on infrastructure
• Actual commercial 5G speeds may vary due to network congestion and environmental factors

Argus Jan 12 session

-0.08% close to close Open Argus

Details

News Market Reaction – VEON

On Jan 12, the day this news came out, VEON closed 0.08% below the previous close.

Data tracked by StockTitan Argus for the Jan 12 session.

Key Figures

Ukraine investment plan: USD 1 billion Peak 4G speed: 1 Gbps High-speed 5G band: 3500 MHz +2 more

Ukraine investment plan

USD 1 billion

Planned investments over 2023–2027 into Ukraine’s connectivity and digital infrastructure

Peak 4G speed

1 Gbps

Peak 4G speeds already exceed 1 Gbps in some areas during off-peak hours

High-speed 5G band

3500 MHz

Planned 5G band in Ukraine for high data transmission speeds

Coverage 5G band

700 MHz

Planned 5G band in Ukraine to ensure wider coverage

Peak 5G download speed

2.4 Gbps

Pre-launch 5G testing in Lviv achieved download speeds exceeding 2.4 Gbps

Historical Context

5 past events · Latest: Dec 23

5 events

1. Dec 23

   Network collaboration

   24h Move

   -0.3%

   MoU with Rakuten Symphony on next‑gen connectivity and cloud-native networks.

2. Dec 19

   Banking expansion

   24h Move

   -1.5%

   Mobilink Microfinance Bank launched Islamic banking operations in Pakistan.

3. Dec 18

   Listing upgrade

   24h Move

   -0.3%

   ADS transfer to Nasdaq Global Select Market and new index inclusions.

4. Dec 16

   Renewable acquisition

   24h Move

   +1.4%

   Kyivstar bought SUNVIN 11, adding 12.9 MW solar generation in Ukraine.

5. Dec 16

   Earnings schedule

   24h Move

   +1.4%

   Announcement of VEON and Kyivstar Q4 and FY 2025 results release dates.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

5g, 4g, direct to cell, satellite connectivity, +1 more

5 terms

5g technical

"has launched a 5G test zone in the historical center of the city of Lviv"

5G is the fifth generation of wireless technology that provides faster internet connections, lower latency, and greater capacity than previous networks. It enables quicker downloads, smoother streaming, and more reliable connections for devices. For investors, 5G represents a significant upgrade in technology infrastructure that can drive growth in related industries such as smartphones, smart cities, and the Internet of Things.

4g technical

"focus on its “4G Everywhere” target, which meets the needs of most smartphone users"

4G is the fourth generation of cellular network technology that delivers faster internet, clearer calls, and better support for video and apps on mobile devices. Investors care because upgrades or expansions of 4G networks affect sales of phones and network equipment, change how consumers use data, and influence revenue and costs for telecom firms—think of it as a highway upgrade that lets more traffic flow faster, benefiting companies that build, run, or sell services on that road.

direct to cell technical

"pioneering Direct to Cell satellite connectivity through is partnership with Starlink"

Direct-to-cell is a therapeutic delivery approach that puts a drug, gene therapy, or other active payload directly into the target cells instead of relying on broad distribution through the bloodstream or whole organs. For investors, it matters because this targeted delivery can boost effectiveness and reduce side effects—like delivering a package to a specific apartment instead of leaving it in the building lobby—potentially improving clinical outcomes, commercial appeal and regulatory risk, while often requiring specialized technology.

satellite connectivity technical

"pioneering Direct to Cell satellite connectivity through is partnership with Starlink"

Satellite connectivity is the delivery of voice, data and internet services through orbiting satellites instead of ground-based cables or cell towers, like having Wi‑Fi from space that reaches remote areas and moving vehicles. Investors care because it can create new revenue streams, expand markets where traditional networks don’t reach, and offer network backup or global coverage; at the same time it involves high upfront costs, regulatory approvals and technology risk that affect profitability and growth forecasts.

llm technical

"to Ukraine’s own sovereign Ukrainian LLM, powering not just growth for our company"

A large language model (LLM) is an advanced computer system trained on vast amounts of written text to understand and generate human-like language, similar to a very fast, well-read assistant that can summarize documents, draft messages, or answer questions. Investors care because LLMs can speed up research, automate customer support, and reduce costs, while also creating new product opportunities and risks around accuracy, bias, and regulatory oversight that can affect a company’s performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Lviv, January 12, 2026 – VEON, a global digital operator (Nasdaq: VEON), today announces that Kyivstar (Nasdaq: KYIV), Ukraine's leading digital operator and a VEON Group company, has launched a 5G test zone in the historical center of the city of Lviv in Ukraine. This marks Kyivstar’s first local pilot 5G project and is being implemented in coordination with the Ministry of Digital Transformation of Ukraine.

The goal of the 5G pilot is to evaluate network performance in real-world urban conditions. Pending successful pilot testing in Lviv, Kyivstar will gradually expand 5G availability to other Ukrainian cities, including Kharkiv and Borodianka, with Kyiv and Odesa planned for later in 2026.

The testing locations have been selected in collaboration with the Government of Ukraine, starting with the most populous Ukrainian cities that already have advanced infrastructure. A full-scale 5G rollout across the country will only be considered after end of the war. In parallel, Kyivstar will continue to focus on its “4G Everywhere” target, which meets the needs of most smartphone users in Ukraine. With Kyivstar’s ongoing network modernization, peak 4G speeds already exceed 1 Gbps in some areas during off-peak hours.

“Even in the midst of full-scale war — under constant Russian attacks on infrastructure and during blackouts — Ukraine continues to move forward and expand innovation in the telecom sector. The launch of the 5G pilot in Lviv is an important step that we have jointly prepared with mobile operators. Lviv is only the first city. We will soon begin pilots in Borodianka and Kharkiv as well. Our goal is to ensure that Ukrainians stay connected and have access to advanced technologies under any circumstances,” said Mykhailo Fedorov, Minister of Digital Transformation of Ukraine.

“Kyivstar is driving Ukraine’s digital transformation with investments in advanced technologies, from piloting 5G in Lviv to pioneering Direct to Cell satellite connectivity through is partnership with Starlink,” said Oleksandr Komarov, CEO of Kyivstar. “Our commitment goes beyond connectivity: we are investing USD 1 billion over 2023-2027 into rebuilding Ukraine’s connectivity and digital infrastructure, from energy resilience for our network to digital services to Ukraine’s own sovereign Ukrainian LLM, powering not just growth for our company but helping support Ukraine’s future recovery.”

Prior to the pilot launch, Kyivstar carried out comprehensive preparations across its network infrastructure, including ensuring that the 5G activation would not interfere with military communications. The company conducted its first 5G tests in February 2024 at its head office in Kyiv.

In Ukraine, 5G will operate in two frequency bands: 3500 MHz for high data transmission speeds and 700 MHz to ensure wider coverage. During pre-launch testing in Lviv, Kyivstar’s 5G network achieved peak download speeds exceeding 2.4 Gbps (actual speeds after commercial launch may vary depending on network congestion and other environmental factors).

About Kyivstar Group Ltd.
Kyivstar Group Ltd. (“Kyivstar”) is a Nasdaq-listed holding company that operates JSC Kyivstar, the country’s leading digital operator and the first Ukrainian company to have its shares traded on a U.S. stock exchange.

Kyivstar’s companies provide a broad range of connectivity and digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV, and enterprise solutions such as Big Data, cloud, and cybersecurity.

Together with VEON, Kyivstar intends to invest USD 1 billion in Ukraine between 2023-2027, through social investments in infrastructure and technological development, charitable donations and strategic acquisitions.

For more information, please visit https://investors.kyivstar.ua.

Nasdaq tickers: KYIV; KYIVW

About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 150 million connectivity and over 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.

Forward-Looking Statements
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, the impact and timing of further roll-out of the 5G pilot in Ukraine. 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 the impact and timing of further roll-out of the 5G pilot in Ukraine, 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 Strategy and Communications Officer
pr@veon.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did VEON announce about Kyivstar's 5G pilot in Lviv on January 12, 2026?

VEON said Kyivstar launched a 5G test zone in Lviv to evaluate network performance in real urban conditions, in coordination with the Ministry of Digital Transformation.

Which frequency bands will Kyivstar use for 5G in Ukraine (VEON/KYIV)?

Kyivstar will operate 5G in Ukraine on 3500 MHz for high speeds and 700 MHz for wider coverage.

How fast were Kyivstar's pre-launch 5G and existing 4G speeds as reported by VEON?

Pre-launch 5G peak download speeds exceeded 2.4 Gbps, and peak 4G speeds already exceed 1 Gbps in some areas.

Will Kyivstar roll out 5G across all Ukrainian cities in 2026 according to VEON?

VEON said Kyivstar will gradually expand pilots to other cities in 2026, but a full nationwide rollout will only be considered after the end of the war.

How much is VEON/Kyivstar investing to rebuild Ukraine's connectivity?

Kyivstar announced a commitment to invest USD 1 billion over 2023–2027 into rebuilding connectivity and digital infrastructure.