VEON Announces Sale of Stake in Beeline Kyrgyzstan, increasing the focus on its large markets
VEON Ltd. - American Depositary Shares (VEON)
US:NASDAQ Investor Relations:
veon.com/investor-relations
Company Research
Source: GlobeNewswire
Amsterdam, 26 March 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that it has signed an agreement for the sale of its 50.1% indirect stake in Beeline Kyrgyzstan to CG Cell Technologies, which is wholly owned by CG Corp Global. The sale is a part of VEON’s strategy to simplify the Group’s structure and focus on its large markets where it can create scale with its DO1440 digital operator model, providing digital services in finance, entertainment, healthcare and education. The transaction values Beeline Kyrgyzstan’s business at 3.4x 2023 EBITDA (pre-IFRS16). “Over the past 2 years, we have transformed Beeline Kyrgyzstan into a winning operation, with 7 consecutive quarters of double-digit revenue growth, high penetration and quality of 4G services and solid foundations in digital offerings. I am proud of the work that the team has achieved under Andrey Pyatakhin’s lea
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VEON
Sec Filings
- 4/25/24 - Form 6-K
- 4/24/24 - Form 6-K
- 4/12/24 - Form 6-K
- VEON's page on the SEC website