VEON’s Banglalink Wins Top Speed Prize for Third Year in a Row

Rhea-AI Summary

VEON Ltd. announces that its Bangladeshi subsidiary, Banglalink, has won the Ookla Speedtest Award for the fastest mobile network in Bangladesh for the third consecutive year. With a Speed Score of 21.56, Banglalink has solidified its position as the top provider of high-speed internet in the country.

Recent expansions include over 3000 sites deployed and a doubled spectrum holding through the acquisition of 40 MHz spectrum. Additionally, Banglalink recorded double-digit revenue growth in Q2 2022, reflecting VEON's commitment to enhancing digital services.

Positive

• Banglalink awarded fastest mobile network in Bangladesh by Ookla for three consecutive years.
• Achieved a Speed Score of 21.56, marking industry leadership in high-speed internet.
• Expanded infrastructure with over 3000 new sites nationwide.
• Doubled spectrum holding by acquiring 40 MHz spectrum.
• Reported double-digit revenue growth in Q2 2022.

Negative

• None.

 

Bangalink Wins Ookla® Speedtest Award™ for fastest mobile
network in Bangladesh for third consecutive year
Amsterdam, 2 September 2022: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, today announces that its operating company in Bangladesh, Banglalink, has received the award for the fastest mobile network in Bangladesh for the third year running.

Ookla’s Speedtest report found Banglalink to have a Speed Score™ of 21.56; crowning Banglalink as the leading provider of high-speed internet in Bangladesh. Banglalink has recently rolled out more than 3000 sites across the country and has doubled its spectrum holding through the acquisition of a 40 MHz spectrum, while also recording double-digit revenue growth in Q2, 2022.  

“VEON is committed to providing the best-in-class connectivity and digital services throughout the countries we operate by increasing our coverage, and quality of our networks.  High-speed internet enables economies to grow, empowers our customers, and allows us to provide innovative services as part of our digital operator strategy,” explains Kaan Terzioglu, CEO of VEON. “Banglalink winning this prestigious award for the third year running, in addition to doubling its spectrum holding, also demonstrates the VEON’s deep commitment to Bangladesh.”

“This award recognises both VEON’s and Banglalink’s commitment to be the best-in-class digital operator”, said Erik Aas, CEO of Banglalink. “This award is a testament to our tireless work in providing the fastest network speed for our customers alongside our continued investment in Bangladesh’s mobile infrastructure. At Banglalink, we are proud to empower our customers to live a digitally connected life.”

About Banglalink

Banglalink is one of the leading digital communications service providers in Bangladesh, working to unlock new opportunities for its customers as they navigate the digital world. Driven by the vision of transforming lives through technology, Banglalink also strives to transform into a future-ready service provider capable of catering to the demands of the new digital era. It is a subsidiary of VEON Ltd - a Nasdaq and Euronext listed connectivity provider headquartered in the Netherlands.

For more information, visit: www.banglalink.net

About VEON
VEON is a digital operator that provides converged connectivity and digital services to over 200 million customers.  Operating across seven countries that are home to more than 8% 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 operations and strategy in Bangladesh. 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

• Group Communications Director

Marina Levina
PR@veon.com

• Julian Tanner

Julian.tanner@tuvapartners.com

FAQ

What recent award did VEON's Banglalink win?

Banglalink won the Ookla Speedtest Award for the fastest mobile network in Bangladesh for the third consecutive year.

What is the Speed Score achieved by Banglalink?

Banglalink achieved a Speed Score of 21.56 according to Ookla's report.

How many new sites has Banglalink rolled out recently?

Banglalink has recently rolled out over 3000 new sites across Bangladesh.

What was the revenue growth reported by Banglalink in Q2 2022?

Banglalink reported double-digit revenue growth in Q2 2022.

What did VEON acquire to enhance its network capabilities in Bangladesh?

VEON acquired a 40 MHz spectrum to double its spectrum holding.