Amsterdam, The Netherlands, February 8, 2023 08:00 CET – VEON Ltd. VEONVEON)), a global digital operator offering converged connectivity and online services, announced today that Russian regulators have received approval for the proposed sale of its Russian operations.
Kaan Terzioğlu, CEO of VEON Group, said: “We believe that the sale of our Russian business represents the optimal solution for VEON, its Russian activities and all stakeholders, including customers, shareholders, creditors and employees, both inside and outside Russia . We are pleased to have reached this significant milestone in the transaction, which is expected to increase equity, reduce VEON’s debt and improve its credit profile.”
On February 7ththIn 2023, the Sub-Commission of the Government Commission on the Control of Foreign Investments in the Russian Federation gave its approval to the proposed sale of VEON’s Russian operations to certain senior members of the management of PJSC VimpelCom, headed by the current CEO Alexander Torbakhov, subject to certain conditions.
The Russian Federal Antitrust Authority has already approved the transaction and it is expected that the remaining closing conditions will be satisfied and the transaction will close on or before June 1, 2023 as previously announced.
About VEON
VEON is a global digital operator currently providing converged connectivity and online services to over 200 million customers in seven dynamic markets. We transform people’s lives, empower individuals, create opportunities for greater digital inclusion and drive economic growth in countries home to more than 8% of the world’s population. VEON is headquartered in Amsterdam and is listed on NASDAQ and Euronext.
For more information visit: https://www.veon.com.
Disclaimer
This press release contains “forward-looking statements” as that term is defined in Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US…
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