VEON Welcomes Unfreezing of its Corporate Rights in Kyivstar, Supporting Ukraine’s Recovery and Resilience
VEON (Nasdaq: VEON) announces that the Shevchenkivskyi District Court of Kyiv has ruled to unfreeze 47.85% of VEON's corporate rights in Kyivstar and 100% of rights in other Ukrainian subsidiaries. This decision removes all restrictions previously imposed on VEON's wholly owned subsidiary Kyivstar and other Ukrainian operations. The company recently consolidated its trading on Nasdaq and has committed to invest USD 1 billion through 2027 to rebuild Ukraine's digital infrastructure. Kyivstar, which is 100% owned by VEON, has been recognized among the top 5 investors in Ukraine, with VEON being the largest international investor in the country in 2022 and 2023.
VEON (Nasdaq: VEON) annuncia che il Tribunale del Distretto di Shevchenkivskyi di Kyiv ha deciso di sbloccare il 47,85% dei diritti aziendali di VEON in Kyivstar e il 100% dei diritti in altre filiali ucraine. Questa decisione rimuove tutte le restrizioni precedentemente imposte alla filiale interamente controllata da VEON, Kyivstar, e ad altre operazioni ucraine. L'azienda ha recentemente consolidato il suo trading su Nasdaq e si è impegnata a investire 1 miliardo di dollari USA entro il 2027 per ricostruire l'infrastruttura digitale dell'Ucraina. Kyivstar, di proprietà al 100% di VEON, è stata riconosciuta tra i primi 5 investitori in Ucraina, con VEON che risulta essere il maggiore investitore internazionale nel paese nel 2022 e 2023.
VEON (Nasdaq: VEON) anuncia que el Tribunal del Distrito de Shevchenkivskyi en Kyiv ha decidido descongelar el 47.85% de los derechos corporativos de VEON en Kyivstar y el 100% de los derechos en otras filiales ucranianas. Esta decisión elimina todas las restricciones impuestas previamente a la subsidiaria totalmente propiedad de VEON, Kyivstar, y a otras operaciones en Ucrania. La empresa ha consolidado recientemente su comercio en Nasdaq y se ha comprometido a invertir 1 mil millones de dólares hasta 2027 para reconstruir la infraestructura digital de Ucrania. Kyivstar, que es 100% propiedad de VEON, ha sido reconocida entre los 5 principales inversores en Ucrania, y VEON ha sido el mayor inversor internacional en el país en 2022 y 2023.
VEON (Nasdaq: VEON)은 키이우의 셰우첸키우스키 지역 법원이 VEON의 Kyivstar에 대한 47.85%의 기업 권리를 해제하고, 다른 우크라이나 자회사의 권리를 100% 해제하기로 결정했다고 발표했습니다. 이 결정은 VEON의 100% 자회사인 Kyivstar와 다른 우크라이나 사업에 이전에 부과된 모든 제한을 제거합니다. 회사는 최근 나스닥에서 거래를 통합하고, 2027년까지 우크라이나의 디지털 인프라를 재건하기 위해 10억 달러를 투자하기로 약속했습니다. VEON이 100% 소유한 Kyivstar는 우크라이나의 상위 5개 투자자 중 하나로 인정받았으며, VEON은 2022년과 2023년에 이 나라의 최대 국제 투자자로 여겨졌습니다.
VEON (Nasdaq: VEON) annonce que le tribunal de district de Shevchenkivskyi à Kyiv a décidé de débloquer 47,85 % des droits sociaux de VEON dans Kyivstar et 100 % des droits dans d'autres filiales ukrainiennes. Cette décision supprime toutes les restrictions précédemment imposées à la filiale entièrement détenue par VEON, Kyivstar, et aux autres opérations ukrainiennes. L'entreprise a récemment consolidé ses échanges sur Nasdaq et s'est engagée à investir 1 milliard de dollars d'ici 2027 pour reconstruire l'infrastructure numérique de l'Ukraine. Kyivstar, qui est détenue à 100 % par VEON, a été reconnue parmi les 5 principaux investisseurs en Ukraine, VEON étant le plus grand investisseur international dans le pays en 2022 et 2023.
VEON (Nasdaq: VEON) gibt bekannt, dass das Shevchenkivskyi Bezirksgericht in Kiew entschieden hat, 47,85% der Unternehmensrechte von VEON an Kyivstar und 100% der Rechte an anderen ukrainischen Tochtergesellschaften freizugeben. Diese Entscheidung hebt alle zuvor auferlegten Einschränkungen an die vollständig im Eigentum von VEON stehenden Tochtergesellschaft Kyivstar und an andere ukrainische Geschäfte auf. Das Unternehmen hat kürzlich seinen Handel an der Nasdaq konsolidiert und sich verpflichtet, bis 2027 1 Milliarde US-Dollar in den Wiederaufbau der digitalen Infrastruktur der Ukraine zu investieren. Kyivstar, das zu 100% im Besitz von VEON ist, wurde als einer der Top-5-Investoren in der Ukraine anerkannt, wobei VEON 2022 und 2023 der größte internationale Investor im Land war.
- Court unfreezing of corporate rights in Kyivstar and other Ukrainian subsidiaries
- USD 1 billion commitment for Ukraine's digital infrastructure through 2027
- Recognition as largest international investor in Ukraine (2022-2023)
- Recent spectrum acquisition strengthening market position
- Total historical investment of USD 10 billion in Ukraine's economy
- None.
Insights
The unfreezing of VEON's corporate rights in Kyivstar represents a significant legal and investment milestone. The ruling by the Shevchenkivskyi District Court of Kyiv removes critical restrictions on VEON's
The commitment to invest an additional
This development significantly improves VEON's market positioning and operational flexibility in Ukraine. The removal of restrictions on corporate rights enables VEON to pursue its strategic objectives more effectively, including potential partnerships and investment opportunities. The company's commitment to Ukraine's digital infrastructure development, backed by substantial financial investments, positions it favorably in a market with significant growth potential.
The court's decision sends a positive signal to international investors about Ukraine's business environment, potentially attracting more foreign investment. This could create a multiplier effect, benefiting both VEON's market value and its operational capabilities. The company's dual focus on infrastructure development and digital services expansion presents a compelling growth narrative in an emerging market context.
Amsterdam, Dubai and Kyiv, 29 November 2024: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), is pleased to announce that the Shevchenkivskyi District Court of Kyiv has ruled in favor of a request to unfreeze
VEON underscored its commitment to Ukraine as it announced the consolidation of its trading on Nasdaq on 25 November 2024.
“As a Nasdaq-listed company, we warmly welcome today’s ruling on behalf of all our stakeholders. By fostering a secure and transparent environment for foreign direct investment, Ukraine is positioning itself as a beacon for international business, and inspires further confidence among current and potential investors. As an American-founded company with strong U.S. ties and a long history of commitment to Ukraine, VEON looks forward to deepening our partnerships and contributing to Ukraine’s resilience and recovery,” said Augie K Fabela II, Chairman of the Board and American Founder of VEON.
“Today’s decision demonstrates Ukraine’s commitment to upholding the rule of law and fostering an environment supportive to business. This ruling sends a strong message to the international community, including VEON’s own investors, that investing in Ukraine is the right thing to do. We would like to thank the Ukrainian authorities for a continued open and transparent communication. We are excited to continue exploring the ways in which VEON can play a greater role in bringing international and local investors into Kyivstar, in line with VEON’s previously disclosed strategic direction for value creation in our digital operators,” said Kaan Terzioglu, Group CEO of VEON.
“Today’s decision allows us focus on our plans to increase energy resilience, expand 4G coverage and develop digital services in Ukraine with greater confidence. With our 4000-strong team and the support of our parent company VEON, we are honored to play a key role in Ukraine’s resilience, and have done so with more vigor than ever since the onset of the war. Our partnership with the Ukrainian government, international and local businesses and with the people of Ukraine will now only accelerate, supporting the reconstruction of our country,” said Oleksandr Komarov, CEO of Kyivstar.
Kyivstar, with VEON’s full support, has been a pillar of Ukraine’s resilience, and VEON has made investing in Ukraine a key part of its mission. Having invested more than USD 10 billion in the country's economy since Kyivstar joined the VEON Group, VEON committed to invest USD 1 billion to rebuild Ukraine’s digital infrastructure through 2027, and has called on other international investors to “Invest in Ukraine, Now!”. Kyivstar’s most recent investments include the spectrum acquisition during the auction held on 19 November 2024 and the ongoing expansion of the energy resilience of the Kyivstar network in order to keep the country connected.
VEON is the
About Kyivstar
Kyivstar is the largest telecoms operator in Ukraine with over 23 million mobile subscribers and over 1 million home internet subscribers. As Ukraine’s market-leading operator, the company has maintained network availability of above
About VEON
VEON is a Nasdaq-listed global digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
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 commercial and investment plans and investment opportunities in Ukraine. 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 anticipate, including the important factors discussed under the caption Risk Factors in VEON’s annual report on Form 20-F for the year ended 31 December 2023, which is on file with the U.S. Securities and Exchange Commission (SEC) and is available on the SEC website at www.sec.gov. 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 initiatives referred to above will be successful.
VEON
Hande Asik
Group Director of Communications
pr@veon.com
FAQ
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