VEON unit completes $81M OLX Kazakhstan acquisition
OLX KZ brings Beeline Kazakhstan a marketplace reaching more than 52% of Kazakhstan’s active internet population.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
6-K
Rhea-AI Filing Summary
VEON Ltd. said its subsidiary Beeline Kazakhstan completed the acquisition of 100% of OLX Group LLP from OLX Global B.V. for total consideration of USD 81 million, inclusive of approximately USD 6 million of completion adjustments, after receiving relevant regulatory approvals. OLX KZ’s marketplace covers goods, services, real estate and automotive listings, reaches more than 52% of Kazakhstan’s active internet population and has approximately 9 million monthly active users. It reported annual revenue of just over USD 28 million for the year ending March 2026.
The acquisition adds a classifieds marketplace to Beeline Kazakhstan’s digital services portfolio. In 2Q26, VEON served 227.7 million digital customers, and digital revenue grew 53.6% year over year, accounting for over a quarter of Group revenue. Following completion, OLX Group will provide transitional IT services under a handover arrangement to ensure uninterrupted service for OLX KZ users.
2 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointVEON’s digital revenue grew 53.6% year over year in 2Q26.
- Minor pointOLX KZ adds a marketplace with approximately 9 million monthly active users to Beeline Kazakhstan’s digital services portfolio.
Negative
- None.
Key Figures
Total consideration: USD 81 million
Completion adjustments: Approximately USD 6 million
Acquired ownership: 100%
+5 more
8 metrics
Total consideration
USD 81 million
Beeline Kazakhstan’s acquisition of OLX KZ
Completion adjustments
Approximately USD 6 million
Included in total consideration
Acquired ownership
100%
OLX Group LLP
Active internet population reached
More than 52%
Kazakhstan
Monthly active users
Approximately 9 million
OLX KZ
Annual revenue
Just over USD 28 million
OLX KZ, year ending March 2026
Digital customers
227.7 million
VEON in 2Q26
Digital revenue growth
53.6% year over year
VEON in 2Q26
Key Terms
completion adjustments, monthly active users, transitional IT services, handover arrangement, +1 more
5 terms
completion adjustments financial
"inclusive of approximately USD 6 million of completion adjustments"
monthly active users technical
"approximately 9 million monthly active users"
Monthly active users are the number of unique individuals who engage with a product or service at least once within a month. This measure helps gauge how many people regularly use or rely on it, similar to counting how many customers visit a store each month. Investors look at this number to assess the popularity, growth, and overall health of a platform or service.
transitional IT services technical
"OLX Group will provide transitional IT services"
handover arrangement technical
"under a handover arrangement"
forward-looking statements regulatory
"This release contains “forward-looking statements”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was VEON’s consideration for the OLX KZ acquisition?
Beeline Kazakhstan acquired OLX KZ from OLX Global B.V. for total consideration of USD 81 million, inclusive of approximately USD 6 million of completion adjustments. The acquisition followed receipt of relevant regulatory approvals.
How many users does OLX Kazakhstan have?
OLX KZ has approximately 9 million monthly active users and reaches more than 52% of Kazakhstan’s active internet population. It reported annual revenue of just over USD 28 million for the year ending March 2026.
What happens to OLX KZ’s IT services after VEON’s acquisition?
Following completion, OLX Group will provide transitional IT services under a handover arrangement to ensure uninterrupted service for OLX KZ users.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of November 2026
Commission File Number 1-34694
VEON Ltd.
(Translation of registrant’s name into English)
Index Tower (East Tower), Unit 1703, Dubai (DIFC), United Arab Emirates
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): o.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): o.
Information contained in this report
On November 6, 2026, the Registrant issued a press release, a copy of which is furnished hereto as Exhibit 99.1.
EXHIBIT INDEX
| Exhibit No. | Description of Exhibit | ||||
99.1 | Press Release, dated November 6, 2026 | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VEON LTD. | ||||||||
| (Registrant) | ||||||||
| Date: November 6, 2026 | ||||||||
| By: | /s/ Sebastian Rice | |||||||
| Name: | Sebastian Rice | |||||||
| Title: | Group General Counsel | |||||||
VEON Expands its Digital Commerce Footprint with Acquisition of OLX in Kazakhstan New York, Dubai, Astana, [November 6 2026] – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or “the Company”), today announces that its subsidiary Beeline Kazakhstan has completed the acquisition of 100% of OLX Group LLP (“OLX KZ”) from OLX Global B.V. for a total consideration of USD 81 million (inclusive of approximately USD 6 million of completion adjustments), following receipt of relevant regulatory approvals. OLX KZ is a scaled platform for goods, services, real estate and automotive listings, reaching more than 52% of Kazakhstan’s active internet population with approximately 9 million monthly active users. The acquisition adds a marketplace through which people buy, sell and earn, and businesses reach customers. It reported annual revenue of just over USD 28 million in 20261. The acquisition advances VEON’s digital operator strategy of integrating category- leading digital services into its portfolio and scaling them through its connectivity base. It adds to VEON’s existing portfolio across financial services, entertainment, healthcare, education and enterprise solutions, and follows recent additions including ride-hailing leader Uklon and health marketplace Tabletki.ua in Ukraine, and TPL Insurance in Pakistan. In 2Q26, VEON served 227.7 million digital customers, with digital revenue growing 53.6% year-on-year and now accounting for over a quarter of Group revenue. "This acquisition marks another milestone in the digital operator strategy that is reshaping VEON," said Kaan Terzioglu, Chief Executive Officer of VEON. "Across our markets, we are building digital ecosystems that give millions of people meaningful access to digital financial services, healthcare, education and
entertainment, and OLX KZ brings Kazakhstan's leading classifieds platform into that portfolio." “We welcome the OLX KZ team into Beeline Kazakhstan as we expand our digital ecosystem,” said Jabbor Kayumov, CEO of Beeline Kazakhstan. “Combining our connectivity leadership with OLX KZ's reach will deliver new digital experiences to millions of Kazakhs and strengthen our platform for long-term growth." "Joining Beeline Kazakhstan's digital ecosystem opens a new chapter for OLX KZ and our market-leading classifieds platform," said Yelena Kim, General Manager of OLX KZ. "We look forward to scaling our operations and combining our marketplace with Beeline Kazakhstan's connectivity and digital services to deliver greater value to buyers and sellers across the country." Beeline Kazakhstan announced the agreement to acquire OLX KZ in October 2025. Following the completion of the acquisition, OLX Group will provide transitional IT services under a handover arrangement to ensure uninterrupted service for OLX KZ’s users. 1 Year ending March 2026 About VEON VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity users and approximately 228 million digital customers. Operating across five countries that are home to 550 million consumers, 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 www.veon.com. About Beeline Kazakhstan Beeline Kazakhstan serves 11.8 million customers with mobile connectivity and around one million with fixed internet services. Since 2018, the company has been executing its digital operator strategy. Over the past five years, leveraging its expertise in digital solution
development, Beeline Kazakhstan has created an ecosystem of 60 internal and external products. Beeline Kazakhstan is majority-owned by VEON. 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, statements relating to the acquisition of OLX Kazakhstan and its integration into Beeline Kazakhstan’s digital service portfolio. There are numerous risks and uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating the acquisition of OLX Kazakhstan and its integration into Beeline Kazakhstan’s digital service portfolio, among others discussed in the section entitled “Risk Factors” in VEON’s 2025 Form 20-F filed with the SEC on March 16, 2026 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 media contact pr@veon.com