VEON closes the sale of its Russia operations, completes its exit from Russia
October 09 2023 - 9:15AM
VEON closes the sale of its Russia operations, completes its exit
from Russia
Amsterdam, 09 October 2023 15:15 CET – VEON Ltd.
(NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator
that provides converged connectivity and online services (the
“Company”), today announces that it has completed its exit from
Russia with the closing of the sale of its Russian operations to a
group of senior members of the PJSC VimpelCom management team, led
by VimpelCom CEO Alexander Torbakhov.
As previously announced, the transaction does not provide for
any buy-back arrangements and signifies a complete exit from the
Russian market for VEON – a company that serves six exciting and
high-potential emerging markets, delivering higher growth and
operating with a lower leverage and ample
liquidity.
VEON Group CEO Kaan Terzioglu commented: “The closing of the
sale and the completion of our exit from Russia allow us to fully
focus our energy on the way forward, meeting the growing demand in
our markets – Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan
and Kyrgyzstan – with our digital operator strategy. I am pleased
to note that we are now in a much stronger position to deliver our
strategic priorities. We would like to thank all our stakeholders
and regulatory bodies, including U.S. Treasury, who have supported
our Company through this process.”
About VEON VEON is a digital operator that provides
converged connectivity and digital services to nearly 160 million
customers. Operating across six countries that are home to
more than 7% of the world’s population, VEON is transforming lives
through technology-driven services that empower individuals and
drive economic growth. Headquartered in Amsterdam, VEON is
listed on NASDAQ and Euronext.
For more information visit: https://www.veon.com.
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 strategy. 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 even
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. Furthermore, elements of this document
contain or may contain, “inside information” as defined under the
Market Abuse Regulation (EU) No. 596/2014.
Contact Information VEON Hande Asik Group Director
of Communication pr@veon.com
VEON Faisal Ghori Group Director of
Investor Relations ir@veon.com
TUVA Partners Julian
Tannerjulian.tanner@tuvapartners.com
Veon (LSE:0RO7)
Historical Stock Chart
From May 2024 to Jun 2024
Veon (LSE:0RO7)
Historical Stock Chart
From Jun 2023 to Jun 2024