VEON Ltd. ADS - VEON STOCK NEWS

VEON Ltd. announced that its subsidiary, Banglalink, has successfully acquired 4.4MHz in the 1800MHz band and 5MHz in the 2100MHz band, raising its total spectrum holding from 30.6MHz to 40MHz. This acquisition, made at an auction held on March 8, 2021, is valued at approximately BDT1,000 crore (around USD115 million), marking one of the largest investments in Bangladesh’s telecommunications sector in recent years. The additional spectrum is expected to enhance Banglalink’s network capabilities and support its expansion of nationwide 4G services.

VEON Ltd. has secured a new multi-currency revolving credit facility (RCF) worth USD 1.25 billion for VEON Holdings B.V. This agreement replaces a prior facility established in 2017 and includes an initial term of three years with options for two one-year extensions. The RCF will enable drawdowns in either USD or euros.

VEON's CFO noted improvements in capital structure, with a 150bp decrease in average funding costs, reducing annual interest expenses by roughly USD 100 million. This new facility enhances liquidity and financial flexibility for the Group.

VEON Ltd. announced the appointment of Artashes Davtyan as CEO of Beeline Uzbekistan, effective March 15, 2021. Davtyan brings extensive leadership experience from international FMCG firms such as Gillette, PepsiCo, and Mars, most recently serving as Head of Private Label at Yandex. Co-CEO Kaan Terzioğlu expressed confidence in Davtyan's ability to enhance the customer-first approach and support sustainability initiatives in Uzbekistan, highlighting the strategic importance of this market for VEON's services.

VEON Ltd. (VEON) reported its Q4 2020 results, revealing a 1.4% YoY revenue growth in local currency, despite an 11.3% YoY decline in reported revenue due to currency fluctuations. EBITDA for the quarter increased by 0.8% YoY in local currency, with significant growth from Ukraine and Kazakhstan. The company invested USD 674 million in operational capex, focusing on 4G network expansion, which raised its 4G user base to 80 million. However, the overall profit decreased by 27.6% YoY to USD 35 million. No dividend will be paid for FY2020, while guidance for FY2021 anticipates modest revenue growth.

VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON) has announced a strategic global partnership with Mastercard to enhance digital financial services across key markets, including Russia, Pakistan, Ukraine, Kazakhstan, and Bangladesh. This collaboration aims to provide consumers and merchants with tailored financial products, promoting financial inclusion for underserved communities. VEON's co-CEO, Sergi Herrero, emphasized the partnership as a crucial growth opportunity, while Mastercard's Chief Digital Officer, Jorn Lambert, expressed confidence in expanding access to the digital economy.

VEON Ltd. has appointed Leonid Boguslavsky to its Board of Directors, following the departure of Mr. de Beer in December 2020. Boguslavsky is the founder of RTP Global, a venture capital firm, and has a notable history of investments in tech companies such as Yandex and Delivery Hero. His acquisition of leadership at VEON is expected to enhance the company's digital offerings. Chairman Gennady Gazin emphasized that Boguslavsky's skills will help strengthen VEON's customer empowerment strategy.

VEON Ltd. has announced that its subsidiary Kyivstar in Ukraine signed three unsecured loan agreements totaling UAH 4.1 billion (approx. USD 145 million) with Raiffeisen Bank Aval, Alfa-Bank, and OTP Bank. The loans have terms of 5 years for Raiffeisen and 3 years for Alfa-Bank and OTP. Additionally, KaR-Tel, VEON's subsidiary in Kazakhstan, signed a loan agreement with Forte Bank for KZT 10 billion (approx. USD 25 million) over 3 years. Both subsidiaries will explore local debt markets for further borrowing opportunities to enhance VEON's capital structure.

VEON Ltd. announced that Mariano de Beer has stepped down from its Board of Directors effective December 21, 2020. De Beer, who also chaired the Digital Committee, is leaving to focus on other commitments. The company expresses gratitude for his contributions. A search for his replacement is currently in progress. This change occurs amid the company's ongoing efforts to enhance its governance and operational strategies.

VEON Ltd. has appointed Joop Brakenhoff as the Group Chief Internal Audit & Compliance Officer, a newly established role reporting to the co-CEOs and the Audit Committee Chairman. Brakenhoff, who joined VEON in January 2019, previously served as the Head of Internal Audit. His leadership will enhance oversight on risk management and compliance across the organization. The co-CEOs stated that Brakenhoff brings valuable experience to a priority area of governance and ethics for VEON.