VEON’s Banglalink Signs Infrastructure Sharing Agreement with Teletalk and Summit Towers

Rhea-AI Summary

Amsterdam, 28 February 2023: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) announced that Banglalink has signed a tri-party agreement with Teletalk and Summit Towers Ltd. for telecom infrastructure sharing in Bangladesh. This initiative will enable both operators to share resources under relevant guidelines, supported by Summit Towers Ltd. for technical assistance.

CEO Erik Aas emphasized the collaboration as a means to enhance customer experience and service quality while promoting environmental sustainability. Kaan Terzioglu, CEO of VEON Group, stated this partnership aligns with their digital operator strategy, benefiting mobile customers.

Positive

• Strategic partnership enhances service delivery and operational efficiency.
• Collaboration promotes environmental sustainability through resource sharing.
• Potential improvement in customer experience and quality of service.

Negative

• None.

Amsterdam, 28 February 2023: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity announced that Banglalink, its digital operator in Bangladesh, has signed a tri-party agreement with Teletalk and Summit Towers Ltd. for sharing telecom infrastructure.

Under the agreement, the two operators will share their respective telecom infrastructures with each other as per the Tower Sharing Guidelines and all other relevant laws and regulations. Summit Towers Ltd. will provide them with all the technical support needed for the initiative.

“Banglalink always welcomes opportunities to collaborate with other industry players to take the telecom industry forward”, explains Erik Aas, Chief Executive Officer of Banglalink. “It is a timely initiative to improve customer experience and quality of service further, while both organizations utilize shareable resources in an environment-friendly and cost-efficient way.”

“We strongly believe in industry collaborations that enable faster and more efficient delivery of services to mobile customers as a part of our digital operator strategy” states Kaan Terzioglu, CEO of VEON Group. “The agreement with Teletalk and Summit takes Banglalink closer to this goal through the sharing of network infrastructure in Bangladesh, and will benefit the mobile customers of both operators.”

About VEON

VEON is a global digital operator that currently provides converged connectivity and online services to over 200 million customers in seven dynamic markets. We are transforming people’s lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than 8% of the world’s population. 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, the closing of the transactions described above. 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. There can be no assurance that the collaboration referred to above will be successful. Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No. 596/2014.[JT2] 

Contact information
For VEON:
Anna Ivanova-Galitsina
pr@veon.com

Julian Tanner
Julian.tanner@tuvapartners.com

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 [CC1]Banglalink team to confirm if any local regulatory approvals are still required.  If not, this can be omitted.

 [JT2]Legal to customise. 

FAQ

What is the recent agreement involving VEON and Banglalink?

VEON's Banglalink signed a tri-party agreement with Teletalk and Summit Towers for telecom infrastructure sharing in Bangladesh.

When was the VEON infrastructure sharing agreement announced?

The agreement was announced on February 28, 2023.

What are the benefits of the agreement for VEON's Banglalink?

The agreement is expected to improve customer experience, service quality, and promote cost-efficient resource sharing.

Who provides technical support in the VEON and Banglalink agreement?

Summit Towers Ltd. will provide all the necessary technical support for the infrastructure sharing initiative.

How does the VEON agreement align with industry trends?

This agreement reflects VEON's digital operator strategy that emphasizes industry collaboration for efficient service delivery.