VEON have announced the closing of the sale of its Russian operations to members of the senior management team of PJSC VimpelCom, led by VimpelCom CEO Alexander Torbakhov.
There is no buy-back arrangement and so this is a complete exit from the Russian market for VEON leaving the company to focus on its operations in Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan.
VEON Group CEO Kaan Terzioglu commented “I am pleased to note that we are now in a much stronger position to deliver our strategic priorities. We would like to thank all our stakeholders and regulatory bodies, including U.S. Treasury, who have supported our Company through this process.”
Amsterdam, headquartered VEON now provides connectivity and digital services to nearly 160 million customers representing around 7% of the world’s population.
VEON will be joining the lineup for Total Telecom Congress in Amsterdam this November, with Lasha Tabidze, Group Chief Digital Operations Officer and Ana de Kok Reyes, Group Diversity & Inclusion Officer speaking. To join them, register at totaltele.com/congress