Welcome to our dedicated page for VEON Ltd. ADS news (Ticker: VEON), a resource for investors and traders seeking the latest updates and insights on VEON Ltd. ADS stock.
VEON Ltd. ADS (symbol: VEON) is a global digital operator providing converged connectivity and internet services to nearly 160 million customers across six dynamic markets, including Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. VEON offers a comprehensive suite of services encompassing voice, fixed broadband, data, and digital solutions under renowned brands such as Beeline, Kyivstar, banglalink, and Jazz.
Headquartered in Amsterdam and listed on NASDAQ and Euronext, VEON is committed to driving the personal internet revolution by transforming lives through technology-driven services that foster digital inclusion and economic growth. The company prides itself on its ability to empower individuals and create opportunities across its footprint, which covers more than 7% of the world's population.
VEON continuously innovates and expands its offerings. For instance, its subsidiary, Beeline Kazakhstan, in collaboration with IT firm QazCode, hosted the 2024 Beetech Conference in Astana. This event highlighted advancements in AI and big data, featuring participation from global tech giants like NVIDIA and local experts. QazCode also unveiled plans to establish the first GPU cloud in Central Asia, enhancing AI product development capabilities in the region.
Another milestone includes Banglalink's strategic phase-out of 3G services in Bangladesh to enhance its 4G network. This move is part of VEON's broader strategy to provide superior digital experiences and support the country's 'Smart Bangladesh Vision 2041'. Banglalink's 4G subscriber base has grown significantly, reflecting the success of this initiative.
VEON's digital entertainment platform, Tamasha in Pakistan, secured streaming rights for major ICC tournaments, catering to the passionate cricket fanbase. Such strategic content acquisitions are integral to VEON's customer engagement and retention strategy.
Financially, VEON has demonstrated robust growth, with a 6.6% year-on-year increase in total revenues for the first quarter of 2024. The company continues to invest in its infrastructure, with a notable 38.6% year-on-year increase in Capex. VEON maintains a strong liquidity position with USD 632 million in cash equivalents as of March 31, 2024.
VEON's leadership, including CEO Kaan Terzioğlu, is focused on executing its digital operator strategy, leveraging new technologies like AI to enhance customer experiences and drive growth. The recent AGM saw the appointment of a new board, including notable figures like former U.S. Secretary of State Michael R. Pompeo, reflecting VEON's commitment to governance and strategic oversight.
For more information, visit www.veon.com.
VEON Ltd. announced on November 2, 2022, that it is engaging in a competitive sales process for its Russian operations.
The management aims to achieve an optimal outcome for all stakeholders, including shareholders and customers.
Despite this initiative, VEON has not yet committed to any agreements or outcomes regarding the sale, and there are no guarantees of an acceptable offer, necessary approvals, or completion of any options considered.
Kyivstar, Ukraine's largest mobile operator, has honored Chief Technology Officer Volodymyr Lutchenko as Network X's Telco Executive of the Year. This recognition reflects Lutchenko's pivotal role in maintaining robust telecommunications during wartime, with 93% of the network operational. Under his leadership since October 2021, Kyivstar has built 439 new LTE base stations and upgraded 6,200 existing ones. The company also provided vital services, including internet-connected shelters for displaced individuals. Lutchenko expressed gratitude for the award, acknowledging his team's efforts in challenging conditions.
VEON Ltd. announces a trading update will be released on 3 November 2022 at 7:00 am CET, covering selected operating and financial results for the period ending 30 September 2022. A conference call with senior management will follow at 14:00 CET, accessible via Zoom and dial-in options. Investors are encouraged to participate in the call. The company is headquartered in Amsterdam and serves over 200 million customers across seven markets, driving digital inclusion and economic growth.
Amsterdam, 17 October 2022: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) has appointed Matthieu Galvani as Chief Corporate Affairs Officer, effective immediately. Galvani will oversee the company's corporate affairs strategy, focusing on government relations and communications, as well as environmental, social, and governance initiatives. With over 22 years in telecommunications, Galvani brings extensive experience, having previously served as CEO of Djezzy. CEO Kaan Terzioglu emphasized that Galvani's leadership will enhance VEON's public profile and support its digital operator strategy.
VEON Holdings B.V. has announced that its indirect parent, VEON Ltd., has issued a notice to the holders of its 2023 Notes. These notes include USD-denominated notes with interest rates of 5.950% and 7.250%, totaling USD 1.23 billion. The announcement invites 2023 Noteholders to contact VEON Ltd. for discussions regarding the notes, while VEON Holdings B.V. will not engage in these discussions. This release is intended for informational purposes only and does not constitute an offer to sell or solicit securities.
VEON Group has announced strategic updates, including an invitation for discussions with 2023 noteholders to enhance liquidity and ensure long-term financial stability. The company reported a 16.5% year-on-year increase in 4G users, reaching 105.8 million, which constitutes 52% of its customer base. Notably, five of its seven markets demonstrated double-digit revenue growth for 8M 2022, with a strong focus on expanding digital services in high-growth regions like Pakistan and Bangladesh. VEON’s recent liquidity position stands at $3.2 billion post the sale of its Algerian operator, Djezzy, for $682 million.
VEON Ltd. announces an invitation to holders of its 2023 Notes to engage in discussions regarding the USD 529.32 million of 5.950% notes due 13 February 2023 and USD 700 million of 7.250% notes due 26 April 2023. This engagement is aimed at beneficial holders of the 2023 Notes. However, VEON cannot engage with those subject to asset freezes under applicable sanctions. VEON, headquartered in Amsterdam, serves over 200 million customers and drives digital inclusion.
VEON Ltd. has announced initiatives to bridge the IT talent gap in Uzbekistan, crucial for its goal of becoming a Central Asian IT hub. Through its subsidiary, Beeline Uzbekistan, VEON will establish a regional hub for AdTech services and expand its big data analytics and cybersecurity labs, hiring up to 70 digital professionals in the coming year. The BeeLab facility aims to grow from 130 to over 250 employees by the end of 2023, focusing on data analytics and cybersecurity for financial clients across the region.
VEON Ltd. has received an additional 180-day grace period from Nasdaq to comply with the minimum bid price requirement, extending the deadline to 1 April 2023. This extension follows the initial notification on 7 April 2022 regarding non-compliance. VEON will transfer its listing to Nasdaq Capital Markets and has committed to undertake necessary corporate actions to meet compliance standards during this new period. Group CEO Kaan Terzioglu stated that this extension is beneficial for all stakeholders.
VEON Ltd. announced on September 26, 2022, the launch of next-generation 4G networks nationwide through its subsidiary Banglalink in Bangladesh. This initiative aims to enhance digital connectivity, expecting to double internet speeds and boost the economic development of Bangladesh, where 92.8% of internet users rely on 4G. The rollout involves deploying 3,000 new base stations and utilizes the 2.3 GHz spectrum. This advancement positions Banglalink as a leader in providing high-quality digital services in the country, facilitating better access to health, education, and entertainment.
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