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 has announced the acquisition of a majority stake in OTM, a leading automated advertising platform in Russia. This strategic move will enhance Beeline's position in the AdTech market and facilitate the expansion of OTM's services across VEON's mobile operators. The digital advertising market in Russia is projected to grow from $4 billion to $6 billion in five years, aligning with VEON's vision of leveraging AdTech for market growth. The existing management of OTM will continue to operate independently under VEON's umbrella, aiming to capitalize on the evolving digital landscape.
On June 10, 2021, VEON Ltd. held its Annual General Meeting, where shareholders elected three new board members: Vasily Sidorov, Irene Shvakman, and Sergi Herrero. Herrero, the co-CEO, will step down by the end of June. Shareholders reappointed PricewaterhouseCoopers as the independent auditor and adopted Amended and Restated Bye-laws. Approximately 99.30% of shares were represented at the meeting. The new directors bring extensive experience in telecoms, fintech, and investment, strengthening the board's expertise.
VEON Ltd (NASDAQ: VEON, Euronext Amsterdam: VEON) announces the launch of Kazakhstan's first digital payment card, named 'Simply,' by its operating company Beeline. This innovative card integrates with mobile financial services and links to an electronic wallet and a Visa Platinum card, supporting Apple Pay, Samsung Pay, and Garmin Pay. This initiative aims to enhance financial inclusion in Kazakhstan, where 40% of the population is unbanked, and is part of VEON's growth strategy in mobile financial services.
VEON Ltd. has announced that its Annual General Meeting of Shareholders is scheduled for 10 June 2021, with a record date of 5 May 2021. The Board of Directors has recommended a slate of 12 nominees, including 10 current members and two new candidates: Sergi Herrero, co-CEO, and Irene Shvakman, co-founder of Revo Technologies. Chairman Gennady Gazin emphasized the board's diverse expertise to capitalize on opportunities in the market. Further details will be shared with shareholders before the meeting.
VEON Ltd. has announced the launch of the JazzCash Business App, designed to enhance digital payments for Pakistan's merchants. This app allows business owners to facilitate transactions without visiting banks, providing features like real-time QR code generation, customizable digital invoices, and streamlined payments. JazzCash, which serves over 100,000 registered merchants, aims to promote a cashless economy. CEO Erwan Gelebart emphasized the app's role in supporting SMEs in their digital transformation, promising increased efficiency within Pakistan's expanding digital landscape.
VEON Ltd. announced the appointment of two new leaders: Alex Bolis as Group Head of Corporate Strategy, Communications and Investor Relations, and Dmitry Shvets as Group Head of Portfolio and Performance Management. Bolis brings experience from Telecom Italia, while Shvets has a private equity background from TPG. Both appointments aim to enhance VEON's strategic initiatives and performance management, supporting the company's goal to broaden services for its 210 million customers.
On April 16, 2021, VEON Ltd (NASDAQ: VEON) announced that Co-CEO Sergi Herrero will step down effective June 30, 2021, but will remain as an advisor, particularly regarding VEON Ventures. Kaan Terzioglu will continue as CEO, overseeing corporate and operational matters. Chairman Gennady Gazin praised Herrero's contributions, particularly in developing the ventures business focused on digital services in markets like Pakistan and Russia. VEON emphasizes its commitment to expanding digital businesses, including mobile financial services and digital content.
VEON Ltd. has successfully completed the acquisition of a 15% minority stake in PMCL, Pakistan's top mobile operator Jazz, from the Dhabi Group for USD 273 million. This acquisition grants VEON full ownership of PMCL, simplifying governance of its Pakistani operations. The move is expected to enhance VEON's ability to leverage growth opportunities in the region, particularly through 4G and digital services. Co-CEO Sergi Herrero expressed enthusiasm for this development, indicating a commitment to further expanding services in Pakistan.
VEON Ltd. (NASDAQ: VEON), a major global provider of connectivity and internet services, has submitted its Annual Report on Form 20-F for the fiscal year ending December 31, 2020, to the U.S. Securities and Exchange Commission. This report, detailing VEON's complete audited financial statements, is accessible on the SEC website and the company's Investor Relations page. Shareholders can request a hard copy of the Form 20-F free of charge by contacting VEON's Investor Relations Department.
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