VEON Completes Exit from Russian Market, Focusing on Emerging Markets

VEON Ltd., a global digital operator, has successfully finalized its exit from the Russian market with the sale of its Russian operations to a group of senior members of the PJSC VimpelCom management team. Led by VimpelCom CEO Alexander Torbakhov, this transaction marks VEON’s complete departure from Russia.

The sale, which does not include any buy-back arrangements, allows VEON to shift its focus entirely to its six emerging markets: Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan. With a digital operator strategy in place, VEON aims to meet the growing demand in these markets, delivering higher growth, operating with lower leverage, and maintaining ample liquidity.

VEON Group CEO Kaan Terzioglu expressed his satisfaction with the completion of the sale, stating that it positions the company in a much stronger position to achieve its strategic priorities. He also extended his gratitude to all stakeholders and regulatory bodies, including the U.S. Treasury, for their support throughout the process.

VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers across six countries. Headquartered in Amsterdam, the company is listed on NASDAQ and Euronext.

For more information about VEON, please visit their website at https://www.veon.com.