Kyivstar starts restoring voice services on its network following widespread cyber-attack

Rhea-AI Summary

VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) announces that its Ukrainian subsidiary Kyivstar has started restoring voice services on its mobile network following a cyber-attack. The restoration will progress gradually, with setbacks possible. Kyivstar is also working on restoring data and SMS messaging services. The company is cooperating with Ukrainian law enforcement agencies and government services to identify the circumstances of the attack. Kyivstar refuted claims of compromised consumer data. VEON and Kyivstar are conducting an investigation to determine the full extent and impact of the incident and to implement additional security measures. The financial impact remains unquantifiable as services continue to be restored. VEON and Kyivstar thank Ukrainian government agencies and express their commitment to keeping Ukraine connected and resilient.

Positive

• Kyivstar's initiative to restore services following the cyber-attack demonstrates the company's commitment to its customers and resilience in the face of challenges. The cooperation with Ukrainian law enforcement agencies and government services shows a proactive approach to addressing the incident and ensuring security measures are in place to prevent recurrence.

Negative

• The unquantifiable financial impact of the cyber-attack and the possibility of setbacks during the restoration process may raise concerns among investors and stakeholders. The ongoing investigation to determine the full extent and impact of the incident could potentially uncover further vulnerabilities in Kyivstar's security infrastructure.

Amsterdam, 13 December 2023 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that its Ukrainian subsidiary Kyivstar has started restoring voice services on its mobile network as of 18.00 Kyiv time, following the widespread cyber-attack of 12 December 2023.

The restoration will continue to progress gradually and in stages; and setbacks during the process are possible. Kyivstar technical teams are also working on restoring data and SMS messaging services; and hope to gradually make these available within the next 24 hours. In parallel, the company is working in close cooperation with Ukrainian law enforcement agencies, government services, and the Security Service of Ukraine, to identify the circumstances of the attack. Earlier in the day, Kyivstar refuted unfounded claims that hacker groups shared on social media, and confirmed that consumer data has not been compromised.

VEON and Kyivstar are also conducting a thorough investigation to determine the full extent and impact of the incident, and to implement additional security measures to prevent any recurrence. The full financial impact remains not quantifiable at this stage as the restoration of services continue.

VEON and Kyivstar thank Ukrainian government agencies for their immediate response and assistance in addressing the attack, and express their gratitude to Kyivstar customers, corporate clients, partners and industry colleagues for the overwhelming support they have shown on public and private channels.

VEON and Kyivstar reiterate their commitment to keeping Ukraine connected and resilient.

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 efforts to address the consequences of a cyberattack. 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. 

Contact Information:

VEON 
Hande Asik
Group Director of Communication 
pr@veon.com

TUVA Partners
Julian Tanner
Julian.tanner@tuvapartners.com

 

FAQ

What is the latest update from VEON Ltd. regarding the cyber-attack on its subsidiary Kyivstar?

VEON Ltd. has announced that Kyivstar has started restoring voice services on its mobile network following the cyber-attack, with the restoration progressing gradually.

Is consumer data compromised in the cyber-attack on Kyivstar?

Kyivstar has refuted claims of compromised consumer data and is conducting a thorough investigation to determine the full extent and impact of the incident.

How is Kyivstar addressing the cyber-attack?

Kyivstar is working on restoring voice, data, and SMS messaging services, cooperating with Ukrainian law enforcement agencies and government services to identify the circumstances of the attack, and implementing additional security measures.

What is the financial impact of the cyber-attack on Kyivstar?

The financial impact remains unquantifiable at this stage as the restoration of services continues.

What is VEON and Kyivstar's commitment following the cyber-attack?

VEON and Kyivstar express their commitment to keeping Ukraine connected and resilient, thanking Ukrainian government agencies for their immediate response and assistance in addressing the attack.