VEON completes the sale of its 50% stake in Wind Tre to CK Hutchison
VEON Ltd. - American Depositary Shares (VEON)
US:NASDAQ Investor Relations:
veon.com/investor-relations
Company Research
Source: PR Newswire
AMSTERDAM, Sept. 7, 2018 /PRNewswire/ -- VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading provider of connectivity and internet services for emerging markets, today announces the completion of the transaction to sell its 50% stake in Wind Tre to CK Hutchison Holdings Ltd. ("CK Hutchison").VEON expects to use cash proceeds from the sale, equal to EUR 2.45 billion (approximately USD 2.9 billion1), to reduce debt and for general corporate purposes. As a result of the completion of this transaction, the net pro-forma leverage ratio2 of the Group ("Group leverage") is now approximately 1.7x, significantly below our previously announced target ratio of 2.0x. In closing the transaction, VEON will record a net gain of approximately USD 1.2 billion3 in Q3 2018.Ursula Burns, Executive Chairman of VEON, said: "We are pleased to announce the closing of the Wind Tre deal. As we've said before, this sale not only simplifies our Group structure, but also reinforces our emerging markets
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News
- VEON Ltd. (NASDAQ: VEON) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- VEON to release 1Q 2024 trading update on 16 May 2024GlobeNewswire
- Should You Be Impressed By VEON Ltd.'s (NASDAQ:VEON) ROE? [Yahoo! Finance]Yahoo! Finance
- VEON management increases share ownershipGlobeNewswire
- VEON Ltd. (NASDAQ: VEON) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
VEON
Sec Filings
- 4/12/24 - Form 6-K
- 3/28/24 - Form 6-K
- 3/21/24 - Form 6-K
- VEON's page on the SEC website